Significant Ethereum (ETH) holders, known as whales, are aggressively increasing their positions amidst rising institutional trust reflected in record staking values. One notable whale withdrew 17,655 ETH, valued at approximately $72.7 million, while another acquired 8,109 ETH for $34 million in USDT at an average price of $4,193.
This accumulation coincides with Ethereum staking reaching a substantial milestone, with the total value of staked ETH surging past $36 billion. This significant figure is widely interpreted as a sign of growing confidence, particularly among institutional players, in the long-term prospects of the Ethereum network.
Data from the derivatives market presents a mixed picture. A decline in trading volume and open interest suggests some traders are taking profits after recent price movements. However, activity in the options market simultaneously points towards continued long-term strategic positioning by other participants.
On-chain analysis confirms Ethereum’s ongoing growth, revealing a total circulating supply surpassing 121 million ETH. A significant portion, exceeding 36.18 million ETH, is now staked, locking substantial value within the network’s security system.
Prevailing market sentiment remains decidedly bullish. Positive funding rates in perpetual markets and a higher long/short ratio among top traders reinforce the optimistic outlook currently surrounding Ethereum, driven by whale accumulation and strong institutional staking participation.