Last week, the price of Ethereum (ETH) dropped below $3,000 for the first time since November 2024 and is currently hovering around $2,669. Following this drop, wallets holding this asset above $3,000 incurred losses. However, whales and financial institutions saw an opportunity to buy at lower prices. Data from IntoTheBlock shows that whales have been buying extensively since February 4th. The net inflow to whale addresses has increased from -109,160 ETH to 174,000 ETH in just 4 days. Whales typically buy at low prices and sell at price peaks. Therefore, the increase in inflow to their addresses could indicate Ethereum hitting a price floor and starting a recovery trend. Additionally, whale holdings have increased from 37% to 43% in the past year. With whales controlling a significant portion of the supply, their buying activity can amplify market fluctuations. Besides whales, financial institutions have also been buying at low prices. According to SoSoValue data, the weekly inflow into Ethereum ETF funds has reached $420 million, the highest level in 2025. This is also the fifth highest capital inflow since these funds began trading in July 2024. Moreover, the In/Out of the Money Around Price (IOMAP) indicator shows a key demand zone between $2,383 and $2,459, where 2.21 million addresses have bought Ethereum. Given the profitability of these addresses, this zone can serve as a strong entry point for buyers and provide support. If the price drops to this zone and buyers react positively, the likelihood of price recovery is high. However, Ethereum network activity is still declining. Reports indicate that gas fees on this network have recently hit the lowest level in 2025, signaling reduced network usage. This decline could have a negative impact on Ethereum’s future price outlook and hinder its rapid growth. You can view the live prices of all tokens and cryptocurrencies on the Momentary Price page of digital currencies.
