Ethereum (ETH) 'whales' are back in action, but this time not to sell cryptocurrency as they have at various times throughout the year. Instead, on-chain data shows that ETH is being significantly accumulated, along with increasing interest from retail investors.
Retail investors and 'big players' are buying ETH.
On November 29, the net flow of large investors reached 28,680 ETH, but today this number has risen to 80,130 ETH. Net flow measures the difference between the amount of coins accumulated and the amount sold by whales.
Positive net flow indicates that whales are buying more than they are selling, which is a signal that is often optimistic. Conversely, negative net flow suggests increasing selling activity, typically leading to a downward trend.
Latest data reveals that Ethereum whales have accumulated approximately 51,450 ETH – worth around 188 million USD – in just two days. If this buying trend continues, the price of ETH could reach $4,000.