Ethereum Shows Strong Growth, Whale Profit-Taking, And Record ETF Inflows As ETH Eyes New Highs

Ethereum’s network activity has surged, with active addresses rising 36% since November 5, signaling growing confidence in the cryptocurrency following the elections.

This surge in network engagement is further supported by a 70% price increase, with ETH now positioning itself to challenge its previous all-time high.

The uptick in activity is not just driven by retail investors; whales are also taking profits. Just 8 hours ago, a well-known “diamond-hand” whale, identified as “0x682,” deposited a substantial 11,639 ETH (worth $46.37 million) to Kraken.

This whale had previously withdrawn 96,639 ETH from Coinbase in September 2022 at around $1,580 per ETH and later deposited the full amount on Kraken between March and December 2024 at an average price of $3,080 per ETH. If these were trades, the whale would have earned an impressive $145 million profit, reflecting a 95% return over 2.25 years.

Ethereum Momentum Builds Up Following Up With ETF Performance

Ethereum’s recent momentum is also reflected in its ETF performance. Between December 2 and December 6, Ethereum spot ETFs saw a net inflow of $837 million, setting a new weekly record. BlackRock’s Ethereum ETF (ETHA) led the charge, bringing in $573 million, demonstrating the increasing institutional interest in Ethereum.

With only minor on-chain resistance levels remaining, Ethereum seems poised to challenge its previous all-time high, fueled by strong network growth and substantial institutional backing. As whales lock in profits and ETFs continue to see record inflows, Ethereum’s bullish trajectory appears set to continue in the coming months.

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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Image Source: Bastian Riccardi on Unsplash // Image Effects by Colorcinch