Recent data from AnChain indicates that large Ethereum (ETH) investors are increasing their holdings, a potential bullish sign for the cryptocurrency price. IntoTheBlock platform has analyzed the net flow of Ethereum whales. This index measures the net inflow or outflow of Ethereum to wallets owned by large investors. IntoTheBlock defines three categories of holders: retail, investor, and whale. At the current rate, 0.1% of Ethereum supply is worth over $214 million, placing even investors in the large-scale category. The net flow of large investors is a combination of whale and investor activities. When this index is positive, it indicates net Ethereum inflow to their wallets; while negative values indicate net selling. The published chart by IntoTheBlock shows that the net flow of large investors has mostly been positive in the past week. Only on the second day of the month, this group purchased 130,000 Ethereum (around $230 million) net. Ethereum has allocated 85% of total weekly inputs to itself and strengthened its dominance in the DeFi sector. On the other hand, Ethereum network fees have reached the lowest level since 2020 and decreased by 59.6% to $208 million due to the increase in gas limit and migration of transactions to layer two blockchains. It is noteworthy that Ethereum surged above $1900 this week but has now returned to around $1770, halting its upward momentum. You can track the prices of all tokens and cryptocurrencies live on the Instant Digital Currency Prices page.
