Whales collect $1 billion in ETH, will Ethereum be $4,000 next?

The price of Ethereum (ETH) is still limited around $3,307.2, while whales have accumulated 330,000 ETH worth $1 billion. A closer look at the on-chain data shows the emergence of other bullish signals supporting a potential rebound. Technical analysis reveals that the price is poised to rise to $4,000.
Ethereum Price Today: A reversal is likely as whales accumulate ETH
In anticipation of Donald Trump’s inauguration, the price of Bitcoin (BTC) reached $109,000 over the weekend. This surge has caused many altcoins to rise, but Ethereum price is still within a range and is currently trading around $3,307.2 as of 6 AM. From a daily high of $3,366.9, the value of ETH fell by 2.68% on January 22. While the short-term performance has been uninspiring, the outlook for Ethereum is likely to change, as suggested by on-chain metrics, whale accumulation data, and technical analysis. All these bullish signals indicate that the price could bounce back to the $4,000 level soon.
*Ethereum price updated as of 6 AM.
Network Activity Rising: Is New Capital Flowing into ETH?
Data from Santiment shows that the network growth index has risen to 180K after hovering around 90K for the past three months. This indicator tracks new wallets joining the Ethereum blockchain and indicates that these investors are interested in purchasing ETH at current levels. Thus, network growth can be interpreted as an influx of capital.
This metric rose in May 2024 after Ethereum collapsed from $4,000 to $3,100. Shortly thereafter, the price rose by 34%. If history holds true, investors can expect a bottom to form around current levels and expect the Ethereum price to start rising.


With such a bullish fundamental development in investors’ expectations, it is likely that the Ethereum price will form a bottom here. This idea is supported by whales or high net worth traders who accumulate ETH.
Whales are on a buying spree
Two metrics indicate why whales, also known as high net worth investors, are buying ETH. The first indicator is the supply of Ethereum held by non-exchange addresses, which has risen from approximately 52 million in March 2024 to 66 million as of January 2025.
This accumulation spree is occurring while the supply of ETH held on exchanges has declined significantly in the past two months, from 10.89 million on November 27, 2024, to 10.39 million as of July 22, 2025. The combination of these two events is a bullish trend. It indicates that Ethereum price could be preparing for an impulsive move to the upside.


Additionally, Accumulation Support is a supply distribution metric that tracks wallets containing between 1,000 and 10,000 ETH. This group has increased its total by 330,000 ETH in the past two weeks. At the current value of $3,307.2, they have amassed ETH worth approximately $1.08 billion.
During the July 2024 crash, 620,000 ETH accumulated in these wallets, causing prices to rise from around $2,400 to nearly $4,000 in the following five months. During the recent decline, these same wallets accumulated 330,000 ETH, suggesting that a potential uptrend may be in the making.


Will Ethereum price reach $4,000?
As mentioned above, on-chain metrics indicate a bullish outlook for ETH and expect prices to rise. Technical analysis shows a falling wedge pattern forming for Ethereum on the 4-hour chart. The bullish setup expects the price of Ethereum to rise by 17% to reach $4,000. This target is obtained by adding the height of the wider part of the wedge to the breakout point of $3,400.
With bullish on-chain metrics like increased network activity and whales accumulating $1 billion worth of ETH, the outlook is as bullish as can be. Investors should pay attention to these key support levels: $3,057 and $3,132. A collapse of these barriers will spell trouble for ETH and could lead to a 13% to 15% collapse to $2,657.
Frequently Asked Questions (FAQ)
On-chain data shows an increase in network activity and whales accumulating ETH, indicating a potential price rebound.
This indicator tracks new wallets joining the Ethereum blockchain, indicating an influx of new capital and potential purchasing interest.
The falling wedge pattern on the 4-hour chart forecasts a 17% upside to $4,000.
Disclaimer: The provided content may include the personal opinion of the author and is subject to the market situation. Conduct market research before investing in cryptocurrencies. The author or publication does not accept any responsibility for your personal financial loss.
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