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$188M Ethereum (ETH) Whale Buying Frenzy Signals Rally Towards $4,000

Ethereum (ETH) whales are back, but this time, they’re not selling the cryptocurrency like they did for some parts of the year. Instead, on-chain data shows a noticeable buildup of ETH, with retail investors also showing increased interest.

What does this mean for ETH? BeInCrypto reveals all the details, analyzing the developments and their potential impact on the Ethereum price.

Ethereum Retail Investors, The Big Ones Are Buying

On November 29, the net inflow of large ETH holders was 28,680 ETH, but today, it has risen to 80,130 ETH. Net inflow measures the difference between the coins accumulated and those sold by whales.

A positive net inflow indicates that whales are buying more tokens than they are selling, which is usually a bullish sign. Conversely, a negative net flow indicates increased selling, which is often negative for price action.

Recent data reveals that Ethereum whales have accumulated around 51,450 ETH — worth around $188 million — in just two days. If this buying trend continues at the same volumes, it could push ETH price past $3,700.