The price of Ethereum (ETH) with 330 thousand coins sees the level of the mass balance

TLDR

Ethereum whales have amassed 330,000 ETH (approximately $1 billion) in the past two weeks, a strong institutional confidence network growth indicator has doubled from 90K to 180K, indicating the creation of new wallets and potential capital inflows, while the supply on the exchange has increased by 500. ,000 ETH down. In the year November 2024, static addresses increased holdings by 14 million ETH. Technical analysis shows a bearish wedge pattern with a 17% upside target to $4,000, with the price currently nearing $3,300 with key support levels at $3,057 and $3,132.

The largest holders of Ethereum, commonly known as whales, accumulated approximately 330,000 ETH in the past two weeks, worth an estimated $1 billion at current prices. This rally comes as the price of Ethereum strengthens around $3,300.

Blockchain analytics platform Santiment Data has reported a significant increase in Ethereum's network growth indicator, doubling from the previous average of 90,000 to 180,000. This metric tracks the creation of new wallets on the Ethereum blockchain and serves as a key indicator of new capital entering the ecosystem.

The supply distribution data shows an interesting trend between wallets between 1,000 and 10,000 ETH. These addresses have increased their holdings by 330,000 ETH since early January 2025. This pattern shows a similar accumulation event from July 2024.

On-chain measurement has dropped from 10.89 million coins in November 2024 to 10.39 million in January 2025, indicating a steady decline in the supply of ETH held by the currency. .

Meanwhile, the supply held by non-volatile addresses has shown continuous growth, rising from 52 million ETH in March 2024 to 66 million in January 2025.

The price action remains in a falling wedge pattern on the four-hour chart. Technical analysts say this pattern typically precedes upward price movements, with a target of $4,000 indicating a 17 percent upside from current levels.

Trading data shows Ethereum moving between $3,057 support and $3,400 resistance. Despite recent market volatility, the cryptocurrency has maintained stability, with daily trading volumes consistent.

Recent whaling transactions show a clear preference for stockpiling rather than distribution. Large holders are systematically adding to their positions as they expect price stability, suggesting controlled buying rather than aggressive stockpiling.

Market makers and institutional traders have established strong support levels around $3,132, indicating that more buying pressure will be seen when the price approaches this zone. This feature has created a floor on ETH prices in recent market movements.

The current price of $3,279 represents a slight decline of 0.87% from the daily high of $3,366. However, trading patterns indicate persistent buying pressure at these levels, especially from addresses holding significant ETH positions.

Network activity metrics show that active addresses are increasing every day, suggesting that users are increasing their connection to the Ethereum network. This fluctuation in activity often precedes price readings based on historical patterns.

Transaction volume analysis shows steady growth in both value and number of transactions, indicating healthy network utilization. The average transaction volume has remained stable, indicating sustained regular usage rather than occasional large transfers.

Gas charges and network congestion metrics remained within normal ranges, indicating efficient network operation. This stability in network performance supports continued user adoption and marketing growth.

Technical indicators on the hourly chart show the formation of a contracting triangle pattern with resistance at $3,355. This setup often precedes critical price action, with market participants closely watching the $3,400 level as a key breakout.

The cryptocurrency's price holds a position above both the 100-hourly simple moving average and key support levels, indicating market strength despite the price action.