Ethereum whales take care of each other, but why does the price not move?
Cryptory data show something interesting: accumulates addresses – wallets that are rarely buying and selling – have engulfed Ethereum at a surprising pace. The biggest peak occurred in June 2025, well above all that is observed in 2024. Normally, you expect this type of demand to increase prices. But the value of ETH has barely changed.
It is a strange disconnection. Perhaps the big actors – the Whales, the institutional buyers – quietly stacking tokens before a rally. After all, similar accumulation peaks in the past have led to price jumps. Again, past performance does not guarantee anything.
The adoption of businesses and network activity are up
There are other signs of life for Ethereum. Sharplink Gaming (NASDAQ: SBET) recently jumped into the ecosystem, adding to a growing list of companies that grow around ETH solutions. The CEO of Ansensys, Joseph Lubin, also seems optimistic – in an interview with Bloomberg, he referred to the “incredible” accumulation to come, although he did not say details.
Then there is the network itself. The fees increased by 130% earlier this week, probably due to the use of heavier intelligent contracts. Some say that it is an institutional interest in taking up DEFI. But the costs are a double -edged sword – high costs can scare small users, even if they report the request.
But not everyone holds
For all bullish signals, some first investors collect. A Whale of ICO D’Ethereum days has just transmitted an eth-dollar eth eth value in Kraken, perhaps for sale. It is not necessarily a red flag – people benefit from benefits – but it is a reminder that everyone does not expect higher prices.
Currently, the ETH is stuck in neutral. Coingecko data shows a tiny drop by 0.7% in last week, a market capitalization oscillating about $ 289 billion. It is still down 50% compared to its 2021 peak almost $ 4,878.
So what is the next step? If history is repeated, this accumulation could be calm before a storm. Or maybe the market is just tired. Anyway, the story of Ethereum is not over – it just becomes more difficult to predict.
