Ethereum (ETH) Price Sees Massive Whale Accumulation Phase with 330K Coins Added

TLDR

Ethereum whales have accumulated 330,000 ETH (worth approximately $1 billion) in the past two weeks, suggesting strong institutional confidence
Network Growth indicator has doubled from 90K to 180K, indicating increased new wallet creation and potential capital inflow
Supply on exchanges has decreased by 500,000 ETH since November 2024, while non-exchange addresses have increased holdings by 14 million ETH
Technical analysis shows a falling wedge pattern with a potential 17% upside target of $4,000
Price currently consolidating around $3,300 with key support levels at $3,057 and $3,132

Large Ethereum holders, commonly known as whales, have accumulated approximately 330,000 ETH over the past two weeks, valued at roughly $1 billion at current prices. This accumulation comes as Ethereum’s price consolidates around the $3,300 level.

Data from blockchain analytics platform Santiment reveals a notable spike in Ethereum’s Network Growth indicator, which has doubled from its previous average of 90,000 to reach 180,000. This metric tracks new wallet creation on the Ethereum blockchain and serves as a key indicator of new capital entering the ecosystem.

The supply distribution data shows an interesting trend among wallets holding between 1,000 and 10,000 ETH. These addresses have increased their holdings by 330,000 ETH since the beginning of January 2025. This pattern mirrors a similar accumulation event from July 2024, when these same wallets gathered 620,000 ETH before a price increase from $2,400 to nearly $4,000.

On-chain metrics indicate a steady decline in exchange-held ETH supply, dropping from 10.89 million coins in November 2024 to 10.39 million as of January 2025. This half-million ETH reduction in exchange supply suggests a preference for long-term holding over trading.

Meanwhile, the supply held by non-exchange addresses has shown consistent growth, rising from 52 million ETH in March 2024 to 66 million in January 2025. This 14 million ETH increase represents a substantial shift in holding patterns.

The price action remains contained within a falling wedge pattern on the four-hour chart. Technical analysts note this pattern typically precedes upward price movements, with a potential target of $4,000 representing a 17% increase from current levels.

Trading data shows Ethereum moving between support at $3,057 and resistance at $3,400. The cryptocurrency has maintained stability despite recent market volatility, with daily trading volumes remaining consistent.

Recent whale transactions show a clear preference for accumulation over distribution. Large holders have been systematically adding to their positions while maintaining price stability, suggesting controlled buying rather than aggressive accumulation.

Market makers and institutional traders have established strong support levels around $3,132, with additional buying pressure emerging whenever prices approach this zone. This behavior has created a floor effect for ETH prices during recent market movements.

The current price of $3,279 represents a slight decline of 0.87% from the daily high of $3,366. However, trading patterns indicate steady buying pressure at these levels, particularly from addresses holding substantial ETH positions.

Network activity metrics show increasing daily active addresses, suggesting growing user engagement with the Ethereum network. This uptick in activity often precedes periods of price appreciation, based on historical patterns.

Transaction volume analysis reveals steady growth in both value and number of transactions, indicating healthy network utilization. The average transaction size has remained stable, pointing to sustained regular usage rather than sporadic large transfers.

Gas fees and network congestion metrics have stayed within normal ranges, suggesting efficient network operation. This stability in network performance typically supports continued user adoption and transaction growth.

Technical indicators on the hourly chart show the formation of a contracting triangle pattern with resistance at $3,355. This setup often precedes a decisive price move, with market participants closely monitoring the $3,400 level as a key breakout point.

The cryptocurrency’s price maintains position above both the 100-hour Simple Moving Average and key support levels, indicating underlying market strength despite the ranging price action.