- Whales holding 1,000–100,000 ETH have increased their Ethereum balances by 14% over the past five months.
- Ethereum returned about 132% year-to-date versus Bitcoin’s 34% in the same period.
- Net inflows to the Ethereum chain reached $9.9 billion over three months, with $6.7 billion in stablecoin inflows in the past week.
- Ethereum ETFs saw $3.87 billion of inflows in August and $1.08 billion last week, outpacing Bitcoin ETF flows.
- Institutional and treasury moves include a $654 million raise by Ether Machine and a $741 million ETH contribution from co-founder Andrew Keys.
Whale investors have increased holdings of Ethereum amid the recent market correction, according to on-chain data. The shift comes as institutional capital and ETF activity favor the second-largest crypto.
Santiment reports that wallets holding 1,000–100,000 ETH grew their positions by 14% over the past five months. During that span, ETH delivered roughly 132% returns while BTC rose about 34%.
ETH trades near $4,422, up 0.9% in 24 hours, per CoinGecko data. Artemis analytics shows $9.9 billion in netflows to the Ethereum chain over three months, and Token Terminal records $6.7 billion in stablecoin inflows in the past week. (A stablecoin is a cryptocurrency pegged to a stable asset, usually the U.S. dollar.)
Bitget chief analyst Ryan Lee said, “Whale portfolio rebalancing from BTC into ETH is fueling Ethereum’s momentum, supported by rising interest in its ecosystem and upcoming ETF prospects.” He also noted macro factors: “The anticipation of a Federal Reserve rate cut in September strengthens risk-on sentiment, creating favorable conditions for digital assets.”
Alexander Zahnd, CEO of Zilliqa, added that activity is moving back to the Mainnet, especially in DeFi. (DeFi refers to financial applications built on blockchain networks.) “Ethereum’s role has strengthened again, with a clear trend of activity moving back from L2s to the Mainnet, especially in DeFi,” he told Decrypt.
ETF flows have favored ETH, with $3.87 billion in August and $1.08 billion last week versus Bitcoin’s $751.12 million outflow in August and $440.71 million inflow last week; recent days saw notable ETH ETF outflows, adding short-term uncertainty.
Institutional treasury moves include Ether Machine raising $654 million on September 2 after an $800 million financing round that included a $741 million contribution of 169,984 ETH from co-founder Andrew Keys. Fundstrat’s Tom Lee said on Macro Minute that a breakout from Ethereum’s multi-year base could trigger a significant upside, noting, “The bigger the base, the bigger the breakout.”
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