A dormant Ethereum whale that has been inactive for three years has staked 4,736 ETH (approximately $19.84 million) into Kiln, with a paper profit of over $10 million compared to the accumulation price from back then.

This type of "silent capital" choosing to lock up and stake at a high position sends two signals: not in a hurry to exit and willing to earn money over time.

In response, the market's bets on ETH reaching a new all-time high have intensified, with the probabilities provided by the market being adjusted upwards; ETFs have also recorded weekly net inflows.

Whether a new high is reached depends on the degree of alignment between spot absorption and on-chain yield opportunities. In the short term, avoid chasing emotions; focus on the turning points of staking ratios and net inflows to exchanges. Data source: on-chain monitoring and capital flow snapshots.