Ethereum Spot Order Activity Hints at Institutional Re-Entry, Analysts Claim
Recent on-chain data indicates a resurgence in Ethereum whale activity, showing accumulation by large investors as the cryptocurrency approaches a potential local bottom. Large holders with 10,000-100,000 ETH have increased their balances by 7.6 million tokens, a 52% rise since late April. Meanwhile, retail holders have reduced their ETH holdings by 16%. Analysts suggest that this pattern is often a precursor to trend reversals, especially as the price fluctuates around $3,200. The upcoming Fusaka upgrade, set for activation on December 3, is expected to enhance Ethereum's scalability, potentially lowering transaction costs and incentivizing further institutional investment. Positive macroeconomic conditions, including potential regulatory clarity and an end to governmental shutdowns in the U.S., could support this trend. Various industry experts emphasize that ongoing whale accumulation correlates with a broader market recovery, potentially paving the way for Ethereum to stabilize and rise in value.
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