TLDR
Ethereum giants have amassed 330,000 ETH (valued at around $1 billion) over the last fortnight, hinting at robust institutional trust
Network Growth metric has surged from 90K to 180K, reflecting a rise in new wallet establishments and possible capital influx
Supply on exchanges has dropped by 500,000 ETH since November 2024, while addresses not on exchanges have increased their assets by 14 million ETH
Technical assessment reveals a descending wedge formation with a potential upside target of 17% reaching $4,000
Current price is consolidating around $3,300 with crucial support zones at $3,057 and $3,132
Major Ethereum holders, often referred to as whales, have accumulated about 330,000 ETH during the previous two weeks, estimated at roughly $1 billion based on current valuations. This buildup occurs as Ethereum’s price stabilizes around the $3,300 mark.
Insights from blockchain analytics service Santiment illustrate a significant rise in Ethereum’s Network Growth metric, which has increased from an earlier average of 90,000 to touch 180,000. This statistic tracks the creation of new wallets on the Ethereum blockchain and acts as a vital sign of fresh capital entering the ecosystem.
Data on supply distribution reveals an intriguing trend among wallets holding between 1,000 and 10,000 ETH. These addresses have boosted their holdings by 330,000 ETH since January 2025 commenced. This trend parallels a similar accumulation occurrence in July 2024, when these identical wallets collected 620,000 ETH prior to a price surge from $2,400 to nearly $4,000.
On-chain statistics indicate a gradual decrease in ETH supply held on exchanges, falling from 10.89 million coins in November 2024 to 10.39 million as of January 2025. This half-million ETH decline in available supply on exchanges implies a preference for long-term accumulation rather than trading.
Conversely, the quantity held by non-exchange wallets has displayed ongoing growth, increasing from 52 million ETH in March 2024 to 66 million in January 2025. This increment of 14 million ETH illustrates a significant alteration in holding behaviors.
Price movements are confined within a descending wedge format on the four-hour chart. Technical analysts note that this formation typically precedes upward price trends, with a potential target of $4,000 indicating a 17% increase from current positions.
Trading insights reveal Ethereum fluctuating between support at $3,057 and resistance at $3,400. The cryptocurrency has maintained stability in spite of recent market fluctuations, with daily trading volumes showing consistency.
Recent transactions from whales indicate a distinct preference for accumulation rather than distribution. Significant holders have been methodically increasing their stakes while upholding price stability, indicating controlled buying activity rather than aggressive accumulation.
Market makers and institutional traders have built solid support levels around $3,132, with additional buying pressure surfacing whenever prices near this level. Such behavior has established a floor effect for ETH prices amidst recent market shifts.
The prevailing price of $3,279 reflects a minor dip of 0.87% from the daily peak of $3,366. Nevertheless, trading patterns showcase persistent buying pressure at these levels, particularly from addresses with considerable ETH holdings.
Network activity indicators exhibit a rise in daily active addresses, suggesting heightened user interaction with the Ethereum network. This increase in activity usually precedes times of price appreciation, per historical trends.
Analysis of transaction volume highlights steady growth both in value and number of transactions, signifying healthy network utilization. The average transaction size has remained consistent, indicating sustained regular engagement instead of irregular large transfers.
Gas fees and metrics on network congestion have remained stable within normal parameters, suggesting efficient network function. This reliability in network performance typically fosters continued user adoption and transaction expansion.
Technical indicators on the hourly chart suggest the emergence of a contracting triangle pattern with resistance positioned at $3,355. This configuration often precedes significant price shifts, with market participants keeping a close watch on the $3,400 level as a crucial breakout threshold.
The price of the cryptocurrency sustains a position above both the 100-hour Simple Moving Average and key support thresholds, showcasing underlying market strength despite the fluctuating price behavior.
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