Ethereum is undergoing quiet accumulation by large holders, known as whales, even as it lags behind Bitcoin's recovery. These whales have added over 1.7 million ETH to their portfolios in the past month, showing confidence in Ethereum's future.
IntoTheBlock data reveals that the net inflows have increased, with significant ETH purchases made over the last two days. Analysts and experts see this as a sign of long-term confidence.
Despite the accumulation and a 5.9% price increase over the last week, Ethereum has displayed underperformance against Bitcoin. Its current trading price has reached $2,616 with an increased daily trading volume of over $18 billion.
Crypto analyst CrediBULL has expressed concerns about Ethereum's relative weakness compared to Bitcoin. He notes the difficulty Ethereum faces in clearing recent highs, suggesting potential challenges in the near term.
