Despite a recent drop in Ethereum ($ETH) prices, large holders have accumulated 112.9k ETH, valued at nearly $390 million. This substantial accumulation underscores investor confidence in Ethereum’s long-term potential.
The accumulation notably surpasses the $106 million net inflows to the Ethereum ETFs, highlighting a significant difference in the scale of investment activities. This suggests that large holders are taking advantage of the price dip to increase their holdings.
Analyst Insight: Market Concerns and Future Outlook
Analyst Elja highlights that $ETH ETFs had over $100 million inflows, with BlackRock purchasing 80,000 ETH. Despite this, Ethereum’s price continues to struggle. Elja attributes the market’s bearish sentiment to concerns over Grayscale outflows.
Elja remains optimistic about Ethereum’s future, stating that once the Grayscale outflows are resolved, Ethereum could reach a new all-time high swiftly. This sentiment reflects a broader belief that current market fears are temporary and that Ethereum’s underlying value remains strong.
