Ethereum News Update: Ethereum's Drive Toward $7,000 Accelerates as Major Investors and ETFs Move in Sync
- Ethereum's price momentum accelerates as whale accumulation, ETF inflows, and network upgrades align toward a $7,000 target. - BitMine's $113M ETH purchase boosts its stake to 2.8% of circulating supply, positioning it as the largest corporate holder. - $379.9M ETF inflows and the Fusaka upgrade's December 3 activation highlight institutional confidence and scalability improvements. - Whale activity and rising $1M+ transactions signal sustained institutional buying pressure amid consolidation phases. - E
Ethereum’s price has gained significant traction, driven by a combination of whale accumulation, ETF inflows, and upcoming network enhancements, all of which are setting the stage for a possible move toward $7,000. Major institutional investors and large-scale holders are shifting the market dynamics. For instance, BitMine recently acquired 27,316 ETH for $113 million, bringing its total holdings to 3.31 million ETH—worth over $13.3 billion. This purchase gives BitMine control of 2.8% of Ethereum’s circulating supply, making it the largest corporate ETH holder and moving closer to its aim of owning 5% of the total supply, according to
Large-scale ETH transactions have also picked up pace, with a notable transfer of 10,000 ETH (valued at $39.11 million) to Binance by a major holder. EmberCN confirmed this transaction, which highlights the volatility faced by large ETH investors. The same wallet had previously acquired these tokens at a value of $46.63 million, resulting in an unrealized loss of $7.52 million, as detailed by
At the same time,
Bullish technical signals are further supported by Santiment data, which shows Ethereum transactions over $1 million have reached a three-week high. This uptick coincides with ETH’s recovery toward the $4,000 mark and indicates persistent buying from institutional investors. Analysts point out that whale accumulation often helps stabilize prices during consolidation, laying the groundwork for potential breakouts if trading volume continues to rise, the Coinotag report added.
Beyond Ethereum, institutional staking is expanding as Coinbase and Figment have added support for
Ethereum’s journey to $7,000 depends on several elements: breaking out above current consolidation, increasing trading volume, and ongoing ETF inflows. Technical metrics like RSI (47) and CMF (-0.06) currently indicate neutral momentum, but a positive shift in CMF and higher volume could confirm the bullish target, the Coinotag report concluded.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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