Ethereum whales have significantly impacted the market with a $254 million purchase of ETH, defying prevailing market trends.
This buying spree comes amid a period where large holder inflows nearly doubled within the past week, indicating increased market activity among significant investors.
Additionally, there has been a noticeable shift in exchange net flows from outflow to inflow, suggesting a phase of short-term profit-taking by traders.
Despite a previous phase of bearish consolidation, Ethereum's price has managed to surpass $2,600, showing resilience and market activity.
However, U.S.-based spot ETH ETFs did not perform as well as Bitcoin ETFs, highlighting differences in market sentiment and investment strategies between these two leading cryptocurrencies.
