Ethereum records highest net inflow in three months, reaching 267,000 ETH

Large holders saw net inflows of 267,000 ETH, the highest since March, reflecting continued interest despite market volatility.

According to market intelligence platform IntoTheBlock, large Ethereum (ETH) holders recorded a notable net inflow of 267,000 ETH on Thursday, the highest daily accumulation since March, indicating continued interest and activity among significant ETH investors amid crypto market volatility.

Three-month net inflows and price dynamics

From March to early June, there was a considerable shift in ETH net inflows among large holders. Key events included a sharp increase in mid-March, followed by multiple peaks and troughs during April, and continued volatility during May. A notable spike occurred on June 6, with a net inflow of approximately 267,870 ETH.

In contrast, the price of ETH, shown in black, remained relatively stable. Despite these net inflows, prices did not show immediate drastic changes, suggesting a strong market that can absorb large trades without noticeable volatility. On June 6, the ETH price increased slightly to $3,818.90, in line with the large net inflow.

A surge in new wallets

Despite this net inflow activity, Ethereum has witnessed a staggering increase in the number of new wallets. According to The Crypto Basic, 267,000 new addresses were created on Ethereum on April 28 and 29, the largest two-day increase since October 2022. The surge shows that the Ethereum network is steadily expanding even as ETH prices fall.

On the other hand, the number of Ethereum addresses holding a balance of at least 10,000 ETH has also seen a significant increase. The increase in these addresses has attracted attention amid a resurgence of massive accumulation among large Ethereum investors, who are often referred to as “whales.”

As far as ETH price prediction is concerned, VanEck predicts that Ethereum could reach $22,000 by 2030.

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