🐳 Ethereum whales are back to accumulating!🔵
Glassnode data indicates that whale addresses (holding between 1,000 and 10,000 ETH) have started to significantly accumulate Ethereum, coinciding with the price recovering to around $2,700.
🔍 The chart shows:
🔸 Black: Ethereum price
🔸 Red: Amount of Ethereum held by whales
🔸 Purple: Net change in whale positions (buying or selling)
🕯 We note that the net flows for whales (purple) have turned positive again, meaning that whales are adding to their portfolios, not the other way around, which is a sign of confidence in the upcoming bullish trend.
📌 Why is this important?
- The return of whales to buying means a potential strong price support from here.
- Historically, whale accumulation is considered an early signal for strong bullish waves.
💡 Summary:
Big money is betting on more upside... Are you ready for the next wave? 🚀