Throughout July, the cryptocurrency landscape has seen significant movement, particularly for Ethereum, which has shown an impressive increase of more than 54%. Having climbed past essential resistance levels, this prominent altcoin seems to have stabilized above the crucial $3,700 threshold. As Ethereum continues to surge, the interest from prominent investors has surged as well.
Growing Interest from Major Investors
The resilience of Ethereum is evident as it maintains its price above important benchmarks like $3,700. This strength is further enhanced by a notable uptick in participation from large-scale investors, often referred to as whales in the crypto community.
Recent insights from Santiment, an acclaimed platform specializing in market intelligence and on-chain analytics, confirm that an increase in whale wallet addresses indicates a fresh wave of optimism among substantial investors in the altcoin space.
As both institutional and affluent investors re-engage with the market, they may be forecasting a larger resurgence or a shift in the long-term valuation of ETH. This might signal a pivotal moment in ETH’s ongoing ascendant trajectory.
Interestingly, data shows that while Ethereum whales are multiplying, Bitcoin whales are on the decline. This trend, highlighted in Santiment’s research over a recent two-week period, provides valuable context regarding large investor behavior.
Analysis from Santiment reveals that the count of large wallet addresses holding a minimum of 10,000 ETH has risen dramatically, with 90 new wallets added in just the last two weeks—signifying an 8% growth during that span.
Market analyst and trader Ali Martinez has brought further attention to this phenomenon, focusing on addresses that house between 10,000 and 100,000 ETH.
According to his findings, major whales have accumulated over 220,000 ETH across the network in a mere two days. Considering current market prices, this considerable accumulation is estimated to be worth around $840 million.
The ongoing accumulation trend illustrates growing confidence among major players regarding Ethereum’s future performance. As this activity aligns with rising prices, it may suggest that significant investors are strategically positioning themselves ahead of a potential breakout in the market.
World Liberty Ventures Boosting Their ETH Holdings
According to a recent report by Lookonchain, World Liberty Financial (WLFI), a cryptocurrency initiative associated with former President Donald Trump, has recommenced its purchases of ETH. The company acquired around 256 ETH, valued at approximately $1.01 million during the buying spree.
This latest investment reinforces WLFI’s stake in Ethereum. Currently, this venture boasts a total holding of 77,226 ETH, translating to an investment of about $296 million at an average price of $3,294. Remarkably, they are sitting on an unrealized profit of $41 million.
