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BTC 
ETH Wrapped Ethereum sets a five-year whale activity record: What it means for ETH
In the past week, Wrapped Ethereum (WETH) recorded 113,000 whale transactions worth more than $100,000. According to data from online analytics platforms, this number hit the highest level since May 2021. This surge suggests that large amounts of money are flowing through Ethereum's trading, lending, liquidity and decentralized finance (DeFi) infrastructure rather than sitting idle in wallets.
WETH Whale Activity
The platform pointed out in its latest release that this growth coincides with multiple signs of rising demand for Ethereum. These signs include accelerating inflows into U.S. spot Ethereum ETFs, with BlackRock's ETH products absorbing a large portion of recent inflows; and increasing activity on the Robinhood Chain, which has used ETH as fuel since its launch on July 1 and handled huge decentralized exchange (DEX) trading volume.
The analytics platform also mentioned that corporate financial engagement is increasing, pointing out that Bitmine holds approximately 5.8 million ETH units, while Bitmine, SharpLink and Joe Lubin provide support to Ethlabs to meet institutions 'growing demand for Ethereum. Although these factors do not guarantee price increases, they are worthy of attention.
Next Critical Level
In terms of price, Ethereum, the world's largest altcoin by market value, climbed to US$1,934 on Wednesday, a weekly increase of nearly 9% and a daily increase of 4.5%. Previously, cryptocurrency analyst Ali Martinez pointed out that Ethereum is still above the "must-hold"$1,850, and its next upside target will be $2,300.
MN Trading founder Michaël van de Poppe also believes that if the crypto asset holds the key support area above $1,800, it will "trigger a continued upward trend." Another analyst, Tony Reicha, gave a similar forecast, saying that Ethereum may break through $2,000 first, and if Bitcoin reaches $70,000, it is expected to move into the $2,200 area. However, the rally is expected to be followed by a 7-to 10-day distribution period, after which Ethereum will fall to the final bottom area between $1,260 and $890, which the analyst described as a "fixed investment (DCA) opportunity." Based on this forecast, this decline will pave the way for a new bull market, with Ethereum's final price target of $7,000.
