Ehereum’s weekly transaction fees have reached their highest levels since April, driven by a surge in DeFi activity and portfolio rebalancing following this week’s $100,000 Bitcoin retracement.
This highlights the increasing demand for Ethereum’s network during volatile market conditions.
Weekly Ethereum fees hit their highest levels since April, driven by significant DeFi activity and rebalancing in response to this week's $100K market retracement. pic.twitter.com/OX8bFLHS1r
— IntoTheBlock (@intotheblock) December 13, 2024
A notable whale activity was observed as address 0x148…640c8 capitalized on the recent price dip. Six hours ago, this wallet purchased 3,669 ETH, worth $14.23 million, at an average price of $3,878. With Ethereum’s current price at $3,918, this position has already yielded a floating profit of $145,000.
新地址 0x148…640c8 在 6 小时前 $ETH 下跌时建仓 3669 枚 ETH，价值 1423 万美金，均价 $3878⚡️
按照 ETH 现价 $3918 计算，该地址已浮盈 14.5 万美金📈
钱包地址 https://t.co/txzlQnptjv pic.twitter.com/96Mt5lYnTy
— Ai 姨 (@ai_9684xtpa) December 13, 2024
More Address Buys More $ETH
Four hours later, the same address added another 1,491 ETH to its holdings, investing approximately $5.83 million. In total, the address has acquired 5,160 ETH over the past 11 hours, with a cumulative cost of $20.06 million and an average purchase price of $3,887. This strategic buying during market dips underscores confidence in Ethereum’s long-term potential.
On the institutional side, Ethereum spot ETFs have seen sustained inflows, reflecting growing interest from traditional finance. On December 12 alone, Ethereum spot ETFs recorded net inflows of $274 million, marking 14 consecutive days of positive flows. BlackRock’s ETHA ETF led with $202 million in single-day inflows, while Grayscale’s ETH ETF brought in $73.22 million.
Ethereum spot ETF had a total net inflow of $274 million on December 12, and continued to have net inflows for 14 consecutive days. BlackRock ETF ETHA had a single-day net inflow of $202 million, and Grayscale ETF ETH had a single-day net inflow of $73.2238 million.… pic.twitter.com/4lYfehHwYz
— Wu Blockchain (@WuBlockchain) December 13, 2024
These trends—rising fees, strategic whale activity, and robust institutional inflows—paint a bullish picture for Ethereum. As network activity intensifies and investor interest grows, Ethereum continues to solidify its position as a critical player in the broader crypto ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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