In the past few days, Ethereum has rebounded strongly, rising from below $2,000 to nearly $2,700. While part of this increase may come from the overall market momentum, ETH seems to be preparing to continue its upward trend towards the $3,000 mark in the near future.
One factor is the largest accumulation increase in years in wallets holding between 10,000 to 100,000 ETH. These wallets often belong to high-net-worth individuals, investment funds, and financial institutions. Institutions tend to lead the market before significant volatility occurs, rather than chasing prices. The scale and speed of this accumulation suggest confidence in Ethereum's mid-term trend.
In just the last three days, Abraxas Capital – one of the most active organizations currently – has withdrawn 185,309 ETH worth about $399 million from centralized exchanges. This move coincides with the spectacular price increase of ETH, from around $1,800 to nearly $2,600 — equivalent to an increase of almost 44% in less than a week.
In terms of scale and timing, the withdrawal of significant amounts of ETH signals that accumulation by institutions is playing a crucial role in the current uptrend. And this is not an isolated action. Just a few days prior, Abraxas also withdrew 138,511 ETH (then worth about $297 million) from the exchange. In total, over $695 million worth of ETH has been accumulated in less than a week.
History shows that strong accumulation from whales often signals notable price increases ahead, and this time seems no exception.
ETH price chart | Source: TradingView
Staking activity has increased since Ethereum's Pectra upgrade, which combines elements from the Electra and Prague upgrades. The increasing amount of ETH locked in staking contracts indicates that investors have greater confidence in the long-term sustainability of the network, while also reducing the circulating supply — both of which create upward price pressure.
Moreover, the increase in staking activity also indicates that holders expect higher yields and lower short-term volatility, thereby reinforcing the bullish outlook.
Another notable milestone has been established in the tokenization of real-world assets (RWA) on Ethereum. In May alone, the value of tokenized US Treasury bonds on the Ethereum mainnet increased by 12%, reaching $5 billion for the first time. This shows that Ethereum is increasingly being used by financial institutions as an infrastructure platform for real finance.
The increasing popularity of Ethereum in physical and clearly regulated financial products is evidence of the network's scalability, security, and sustainable growth potential.
Technically, ETH has decisively broken through the EMA 50, 100, and 200 moving averages with high trading volume. The slight correction on May 11 can be seen as a healthy re-establishment before the price continues to rise.
Trading volume has surged at the breakout point, and although the RSI has now exceeded 77 — indicating that the market is slightly overbought, the upward momentum could still push ETH higher after the accumulation process is complete. For a second leg up, a healthy correction to the $2,400–$2,450 range may be necessary.
If Abraxas and other investors continue the strategy of aggressive buying while ETH holds above the $2,300 mark, the price will soon reach the psychological threshold of $3,000.
Even if it surpasses this barrier, Ethereum is likely to retest the price range of $3,300–$3,500, which was recorded during the bull market of 2021.
In summary, the price of $3,000 for ETH is no longer a distant dream, thanks to strong capital inflows, a significant breakout, and increasing interest from institutions.
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Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.