Ethereum’s Record Contract Deployment and Whale Accumulation Suggest Potential for Sustained Gains Amid Market Caution

Key Points

1. Ethereum's new smart contract deployments have reached all-time highs, surpassing previous peaks from 2021 and 2022.

2. Whale accumulation of Ethereum has increased by 36.57% over the past week and 457.68% over thirty days, signaling aggressive positioning.

3. The Long/Short Ratio is nearly even (50.44% Longs vs. 49.56% Shorts), indicating market caution and potential volatility.

4. Exchange inflows recently outpaced outflows ($21.56 million), which may signal profit-taking after price gains.

5. Ethereum's ability to sustain its rally depends on continued developer momentum and whale demand outweighing risks from rising exchange inflows.