Ethereum Whales Massive Accumulation Signals Potential Rally

• If previous patterns repeat themselves, this quiet building may be the beginning of a big upward rise that hasn’t been priced in yet.
• Glassnode data shows that “mega whales” have seen their total ETH holdings increase to over 41.06 million ETH as of Monday.

The rate of accumulation for Ethereum wallets with 10,000 Ether or more is increasing at a higher rate than it was before the 95% surge in mid-2022. Glassnode data shows that these “mega whales” have seen their total ETH holdings increase to over 41.06 million ETH as of Monday, up from a record low of 37.56 million ETH in October 2024.

The accumulation speed was over double from May to September 2022, when the price of ETH soared from about $1,000 to over $1,950, a 95% gain, so that’s a 9.31% increase. Similarly, whale holdings increased by 4% and ETH soared from $460 to $1,220 between November 2020 and January 2021.

Rally Likely on the Cards

In both cases, large holders started to accumulate before the rest of the market did. Since the price of ETH has been rather stable for the past several weeks, it’s safe to assume that nobody is paying much attention to the present accumulation period. If previous patterns repeat themselves, this quiet building may be the beginning of a big upward rise that hasn’t been priced in yet.

Coincident with the increased flows into Ethereum-focused investment products, like as ETFs, the continued growth in mega whales’ Ether holdings is also happening. Since the long-term downturn of the measure started in June 2020, the supply recovery has also been the greatest and longest prolonged.

Additionally, the daily chart for Ether shows that it is trading within a traditional bull pennant pattern. Breakouts resolving the setup usually occur in the direction of the previous trend. Curiously, the structure has seen both a failed breakout and a failed breakdown, indicating a strong tendency toward consolidation. At the time of writing, ETH gained 3% and is now trading at $2,609 as per data from CMC.

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