Ethereum ETF inflows soared to $245 million, giant whales accelerated hoarding

Ethereum ETF inflows soared to US$245 million, whale accumulation surged

Last week, Ethereum continued to attract institutional attention, with net inflows of spot Ethereum ETF reaching US$244.94 million, the strongest performance in nearly four months. ETH prices hover around $1,923, have risen slightly by about 1% in the past 24 hours, and have continued to show a bullish pattern in the rising channel since early August.

ETF inflows hit a four-month high

Weekly net inflows of spot Ethereum ETF pushed total cumulative net inflows to US$11.46 billion. During the same period, weekly trading volume climbed to $2.38 billion. The Bitcoin ETF also attracted a net inflow of US$98.85 million on August 7, achieving positive inflows for the fifth consecutive day. The Ethereum ETF alone reported a net inflow of US$49.6 million that day, maintaining its four-day rise. Market analyst Ted (@TedPillows) highlighted the recovery in institutional activity, reporting that the Ethereum ETF purchased $244.94 million in ETH this week, the largest weekly inflow in nearly four months. ETH ETF inflows this week were US$244.9 million, the strongest weekly inflow since April. These numbers suggest an increase in institutional engagement after a lull earlier this year. Growth in ETF inflows showed a stable pattern, with $105.44 million reported on July 17 and $103.9 million reported on July 24, before rising sharply in early August.

Big whale buying drives market sentiment

Major Ethereum holders have increased their accumulation during recent trading hours. The two wallets purchased a total of 80,000 ETH, worth US$152 million. A whale address withdrew 30,000 ETH (worth $57.21 million) from Coinbase Prime and spread the funds across multiple new wallets. Another wallet received 50,000 ETH (worth $95.73 million) from an address associated with Fidelity. The Ethereum Whale Sentiment Index has remained above 60 for two consecutive days, and has now been above 50 for six consecutive days, indicating continued accumulation. The index is currently close to 66, highlighting the strong interest of large households. However, not all whales are increasing their positions. A senior investor recently sold 7,323 ETH for US$13.96 million, holding these positions at an average price of US$2,723 since 2022, resulting in a loss of US$6 million.

Technical signals and key price levels

Technical analysis shows that the Ethereum monthly chart generated two TD Sequential buy signals last month-a black 9 and an S13. Analyst Ali Charts (@alicharts) pointed out that over the past four years, all TD Sequential signals on the ETH monthly chart have successfully identified the direction of each major trend. This includes a revised market decline of 75% in April 2022 and a rebound of 236% in September 2022. Based on this precedent, if historical patterns repeat themselves, current signals could open the way to $3,000 for ETH. Every TD Sequential signal on the ETH monthly chart closely matches the starting point of a major trend, increasing the likelihood of a rebound to $3,000 in the coming months. Currently, ETH's Relative Strength Index (RSI) is 61.03, which is in a bullish but not yet overbought territory. The moving average convergence/divergence (MACD) line is at 10.31, slightly above its signal line of 9.85, and the histogram value is 0.46, which is moderately positive. ETH is currently trading above its 20-day and 50-day moving averages, while testing resistance from its 100-day moving average. Breaking through this level could directly lead to testing the 200-day EMA (currently at $2,147). If ETH breaks through the key resistance level of $1,920, it is expected to see targets such as the $1,960 and $2,000 psychological barriers. If prices fail to hold above $1,920, initial support is at $1,880, while $1,860 could provide further downside protection. Among these technology trends, platforms that simplify portfolio diversification are receiving attention. For example, 1stepSwap allows users to directly transfer physical assets such as stocks of major U.S. companies, gold, and silver to the blockchain. Investors can immediately access these assets from their wallets, and the platform automatically identifies the best market prices for buying and selling the world's largest stocks, supporting seamless and efficient portfolio management. Regulatory dynamics remain important for market sentiment. The U.S. Senate has launched its first round of voting on the CLARITY bill, which requires at least 60 votes to reach a possible September full-house vote.