Ethereum is quietly gaining momentum, even though it hasn’t been keeping up with Bitcoin’s recent price surge.
Big Whales Are Accumulating Ethereum
Data shows that big Ethereum holders, known as whales, have been steadily buying up Ethereum over the past month. These whales, who own more than 0.1% of all Ethereum, have been consistently adding to their holdings.
In fact, they’ve bought over 1.7 million Ethereum in the last 30 days! This kind of buying activity suggests that these big players believe Ethereum has a bright future.
Ethereum Price is Slowly Catching Up
While Ethereum’s price hasn’t been soaring like Bitcoin’s, it’s been steadily increasing. Over the past week, Ethereum has gained about 6%, and it’s currently trading above $2,600.
Trading volume has also increased significantly, indicating more activity in the market.
Experts Are Divided on Ethereum’s Short-Term Outlook
Some analysts are optimistic about Ethereum’s future, citing the recent accumulation by whales as a positive sign. Others, however, are concerned that Ethereum may struggle to keep up with Bitcoin in the short term.
One analyst, CrediBULL, noted that Ethereum has been relatively weak against Bitcoin recently. While he had hoped for a short-term price increase, he believes Ethereum may continue to lag behind Bitcoin for now.
Only time will tell if Ethereum will break out of its current price range and follow Bitcoin’s lead. But the recent accumulation by whales suggests that big players are betting on Ethereum’s long-term potential. /p>
