$ETH Whales Scoop 1.29M Tokens
Ethereum whales have been actively accumulating ETH tokens, as seen on Santiment’s data. The addresses holding more than 10,000 ETH tokens have expanded their positions significantly, and their holdings have increased by 1.28 million within one month. The total supply controlled by these wallets has increased from 25.23 million tokens on May 14 to 26.52 million.Besides whales, institutions are also buying ETH. As CoinGape reported, Sharplink Gaming purchased 176,271 ETH tokens valued at more than $463 million, making it the largest publicly traded Ethereum holder. Spot ETH ETFs have also been in one of the longest inflow streaks.
When large traders are buying when fewer ETH tokens are available on exchanges, it increases the likelihood of a supply squeeze.What Does the Looming Supply Crunch Mean for Ethereum Price?
A looming supply crunch is generally bullish for Ethereum price as it coincides with surging demand. As more ETH leaves exchanges, the price becomes sensitive to rising demand. Therefore, as accumulation continues, ETH price could post notable gains and possibly reach $4,000.
The supply squeeze could also align with breakout conditions. As recent CoinGape analysis reported, Ethereum price broke out of a 30-day range as buyers and sellers remained on the sidelines. However, ETH fell back to this consolidation range during the recent crypto crash. The looming supply crunch could be the catalyst for a price breakout.
In summary, Ethereum could be at a tipping point as the available supply on exchanges falls to record lows. Meanwhile, whales and institutions are aggressively scooping ETH tokens, which could trigger an explosive move.
As the long-term outlook flips bullish, discover what to expect in the Ethereum price prediction from 2025 to 2030.