Analyst: Whales increasing their holdings of ETH may drive Ethereum's further rise

Odaily Planet Daily reports that with whales increasing their accumulation during the recent crypto market correction, Ethereum is gradually turning bullish. Analysts predict further gains in ETH with continued inflows of institutional funds. Data from the on-chain analytics platform Santiment shows that whale addresses holding between 1,000 and 100,000 ETH have increased their holdings by 14% over the past five months. This concentrated increase in holdings by whales coincides with a net inflow of $9.9 billion into the Ethereum chain over the past three months, along with an additional $6.7 billion in stablecoins, according to Artemis data. (Decrypt.)