Ether (ETH) is currently trading at $2,508, showing a slight decline of 0.88% over the past day. Despite this, the cryptocurrency has managed to hold above the critical $2,500 mark amid changing institutional dynamics. Data from Santiment reveals that wallets with holdings ranging from 1,000 to 100,000 ETH — identified as whale and shark wallets — have collectively increased their positions by a staggering 1.49 million ETH in the past month, marking a 3.72% rise in their total holdings. This group now controls approximately 26.98% of the entire ether supply.
While larger holders are accumulating, smaller retail wallets seem to be retreating and cashing in on profits. This contrast in behavior signals a strong long-term conviction among ether's major stakeholders, despite a general decline in retail sentiment following recent price drops. Compounding this trend, U.S.-listed spot Ethereum ETFs experienced $2.2 million in net outflows on Friday, breaking a 19-day streak of inflows and indicating a shift in institutional demand. Despite these challenges, ether's broader market structure appears stable, particularly following a recent pullback from highs near $2,870. The consistent purchases by whale and shark wallets may establish crucial support for ETH prices, especially if macroeconomic conditions stabilize and regulatory clarity improves.
From a technical standpoint, ETH traded within a range of $2,499.39 to $2,580.53 today, hitting peaks near $2,580 before seeing a decline. The token briefly fell beneath the $2,500 level but rebounded, closing near $2,518.76. Increased trading volume was noted late in the session, especially around 17:30 to 18:00 GMT, coinciding with the rebound off the $2,500 level, reinforcing this area as a key psychological and technical support point. Despite the minor drawbacks, ETH displayed relative stability within an $81.14 range, highlighting the market's absorption of recent price movements.
While larger holders are accumulating, smaller retail wallets seem to be retreating and cashing in on profits. This contrast in behavior signals a strong long-term conviction among ether's major stakeholders, despite a general decline in retail sentiment following recent price drops. Compounding this trend, U.S.-listed spot Ethereum ETFs experienced $2.2 million in net outflows on Friday, breaking a 19-day streak of inflows and indicating a shift in institutional demand. Despite these challenges, ether's broader market structure appears stable, particularly following a recent pullback from highs near $2,870. The consistent purchases by whale and shark wallets may establish crucial support for ETH prices, especially if macroeconomic conditions stabilize and regulatory clarity improves.
From a technical standpoint, ETH traded within a range of $2,499.39 to $2,580.53 today, hitting peaks near $2,580 before seeing a decline. The token briefly fell beneath the $2,500 level but rebounded, closing near $2,518.76. Increased trading volume was noted late in the session, especially around 17:30 to 18:00 GMT, coinciding with the rebound off the $2,500 level, reinforcing this area as a key psychological and technical support point. Despite the minor drawbacks, ETH displayed relative stability within an $81.14 range, highlighting the market's absorption of recent price movements.
