Large Ethereum investors are accumulating ETH by withdrawing over $150 million from exchanges this week. Network activity has reached an all-time high, surpassing the 2021 bull market period. Technical indicators suggest bullish momentum is strengthening without entering overbought territory.
Ethereum whales are demonstrating renewed confidence by actively accumulating the cryptocurrency. According to data from blockchain analysts, one newly created wallet withdrew over 11,629 ETH worth approximately $23.7 million from Binance over two days. Another whale wallet moved 63,324 ETH valued at roughly $131.2 million from Kraken during the same period. Such large exchange outflows are often viewed as bullish signals indicating long-term holding intentions.
Activity on the Ethereum network has hit a new record high, exceeding levels seen during the 2021 bull market. According to a crypto analyst, active addresses, transaction volume, and smart contract usage are rising. Despite these improved fundamentals, Ethereum’s price remains more than 50% below its all-time high as capital continues to leave the broader crypto space.
Momentum indicators reinforce a positive technical outlook. The RSI value of approximately 57 indicates stable bullish momentum without overbought pressure. The MACD line remains above its signal line on a four-hour chart, confirming the ongoing uptrend. These conditions suggest Ethereum has room for further price appreciation as it approaches the $2,100 level.
