Ethereum whales (ETH) – the giants holding between 1,000 to 10,000 ETH – have just recorded the largest net accumulation in a single day since 2018. According to data from Glassnode, this group of whales has accumulated up to 2.5 billion USD in ETH.
The histogram chart shows a distinct spike, confirming a record change in net positions of whales. This is seen as a natural reaction, similar to the accumulation phase that occurred in 2017 – just before Ethereum's spectacular breakout. The supply of ETH held by whales has begun to rise sharply again, surpassing the 14 million ETH mark after a long period of decline.
In the past, such accumulation phases from whales have often opened up strong bullish cycles for ETH. If the current pattern repeats as it did in 2017, a powerful price breakout could be forming.
The chart above confirms the increasing confidence from whales, suggesting that after a quiet period from retail investors, the market may face a 'storm' of bullish activity. Ethereum may be on the brink of a historic turning point.
A strong influx of capital into ETH ETFs and a wave of acceptance from institutions.
In the past week, Ethereum recorded a net inflow of over 450 million USD into spot ETF funds – the third highest since August 2024. This is clear evidence of the buying wave from institutional investors, reinforcing the view that quiet market periods are often times of accumulation for banks, investment funds, and seasoned players.
Notably, this wave of interest arises as ETH prices hover around a crucial support zone, while capital inflow continues to rise – a typical signal of bullish divergence.
If March and April 2025 witnessed a massive outflow of capital from ETH ETFs, then in May and June, the trend reversed with two consecutive weeks of strong inflows. This development reflects a recovering market sentiment and is a sign of a turning point for Ethereum's upward momentum.
Currently, Ethereum is forming a bullish pattern, supported by a decrease in exchange supply and a strong influx of capital. Instead of signaling a market peak, these developments suggest that an accumulation phase is underway, which could lead to a breakout.
Since the beginning of 2025, data from Token Terminal shows that the value of tokenized assets managed on Ethereum has increased parabolically. Major institutions like BlackRock, PayPal, and Franklin Templeton have all contributed to this growth, demonstrating increasing confidence in Ethereum's infrastructure.
Ethereum is gradually positioning itself as a financial center, currently holding over 4 billion USD in tokenized real-world assets (RWA). Historical data shows that strong capital inflows combined with increasing levels of RWA acceptance often precede significant repricing events. If this trend continues, Ethereum may be on the verge of a strong growth phase.