Three Ethereum whales have accumulated over 174,000 ETH worth nearly 540 million USD, providing strong momentum for the price around the 3,200 USD resistance zone amidst volatility and increased short-term investor activity.
This accumulation, along with indicators like the NVT ratio and Stock-to-Flow (S2F) hitting peaks this year, shows positive investor sentiment ahead of overpricing risks, but still carries caution due to slowing network activity.
MAIN CONTENT
Three ETH whales purchased over 174,000 ETH, demonstrating significant interest from large investors.
The NVT index and Stock-to-Flow spikes warn of potential overpricing and supply scarcity.
The resistance zone of 3,100–3,200 USD determines the next trend for Ethereum amid liquidation pressure.
Three Ethereum whales accumulate hundreds of millions of USD in ETH, what signal does this send to the market?
The fact that three Ethereum whale wallets purchased over 174,000 ETH worth nearly 540 million USD in less than two weeks shows the confidence from large institutions, despite the cryptocurrency market still being highly volatile. One wallet accumulated 68,141 ETH via FalconX, while two others bought over 106,000 ETH from Kraken. These transactions are particularly significant as ETH fluctuates around the 3,100 USD mark, not yet breaking through the strong resistance from 3,100 to 3,200 USD.
The contribution of whales helps establish positions for the next price volatility, implying a potential for strong price increases or reversals in the short term.
The accumulation of ETH by whales is seen as a positive sign reflecting preparation for the upcoming upward price trend.
Nguyen Van An, Crypto Strategy Director at Blockchain Asia, 7/2025
Record high NVT index warns that Ethereum is facing network performance issues?
Ethereum's Market Capitalization to Volume ratio or NVT has climbed to 194, the highest in 2025. This reflects a disconnect between market value and actual trading volume, indicating that network activity may slow down or become uneven with rising prices.
According to data from Santiment, sudden spikes in NVT in the past have often signaled accumulation or price correction phases, creating caution within the investor community despite remaining high confidence.
Are short-term investors returning strongly as the HODL wave index rises again?
The Realized Cap HODL wave index in the 1-7 day range reached 2.69%, recovering strongly after several weeks of decline. This is a sign that short-term investors are returning to the market with quick trading and profit-taking activity, especially after the accumulation phase of whales.
The increase in this activity will raise the level of price volatility for Ethereum, making the market more complex but also dynamic for short-term trading strategies.
Ethereum's Stock-to-Flow rises to 592: Is ETH really scarce?
Ethereum's Stock-to-Flow index reached 592, the highest in recent history, signaling that the circulating supply of ETH is becoming increasingly limited compared to new issuance. This situation often stimulates positive narratives around scarcity and Ethereum's long-term value.
This is further reinforced by the strong buying action of whales. However, if demand weakens or investors take profits, the market may experience short-term waves with quickly reversing price effects.
The 3,100–3,200 USD range: Liquidation leverage or breakout momentum?
According to Binance's ETH/USDT liquidation heatmap, the price range from 3,100 to 3,200 USD concentrates many short positions, creating the risk of a "price trap" with leveraged capital being liquidated en masse. The recent uptrend has caused many contracts to be closed, and it is also the decisive area for whether ETH can break out or weaken.
Creating enough pressure to hold this range as support will open up positive prospects. Conversely, if it cannot break through, Ethereum will face strong liquidation pressure prolonging the downtrend.
The 3,100–3,200 USD range is a fierce battleground between buying and selling forces, with leverage potentially making the situation extremely volatile in the short term.
Tran Huu Thanh, Technical Analyst at CoinGlass, 7/2025
Can Ethereum maintain its upward trend or should we be cautious of a correction?
The current Ethereum market shows a balance between buying pressure from whales and warning signals from high NVT ratios along with strong resistance pressure. If large capital flows are maintained and on-chain activity increases, ETH may sustain a stable price increase.
Nevertheless, investors need to be cautious as signs of overpricing and increased price volatility could lead to short-term corrections. The outcome depends on the strength of buying momentum supported by actual volume and investor confidence.
Frequently Asked Questions (FAQ)
What is an ETH Whale? An ETH Whale is a wallet that holds a large amount of Ethereum, often significantly influencing market trends due to strong buying and selling power.
What does the NVT index signify? NVT measures the efficiency between market capitalization and trading volume, helping forecast the potential for overpricing or network equilibrium.
How does Stock-to-Flow affect ETH prices? S2F reflects scarcity, as high index values often promote long-term price increases due to limited supply.
How important is the 3,100–3,200 USD range? This is a critical resistance and support zone, concentrating many liquidation orders that strongly affect short-term price volatility.
Can Ethereum break out during this period? If there is strong capital flow and robust on-chain activity, the likelihood of a breakout is high; conversely, caution is needed with the risk of a correction.
Source: https://tintucbitcoin.com/ethereum-ca-voi-do-them-540-trieu-usd/
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