Ethereum Whale Activity Surges to New High, But Price Remains Flat
According to data from blockchain analytics firm CryptoQuant, Ethereum accumulation has reached its highest level of the current market cycle, driven largely by increased inflows to major holding addresses—often referred to as “whales.”
The most significant spike occurred in June 2025, marking a sharp rise in accumulation compared to last year’s activity. Despite this surge, Ethereum’s price has shown little reaction, remaining mostly stagnant.
Historically, similar accumulation spikes have preceded price rallies, leading some analysts to speculate that a breakout may be on the horizon. However, price action so far has failed to reflect the underlying demand.
Ethereum is also gaining traction from growing corporate interest. SharpLink Gaming (Nasdaq: SBET) recently announced support for Ethereum-based infrastructure, signaling broader adoption in the business world.
Additionally, network fees on the Ethereum blockchain jumped by 130% this week, fueled by increased smart contract activity and rising demand from institutional decentralized finance (DeFi) participants.
Despite these bullish developments, some early investors appear to be taking profits. A notable Ethereum whale from the ICO era recently moved $12 million worth of ETH to Kraken, suggesting mixed sentiment in the market.
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