Ethereum Whales on the Move: Does Millions of Tokens Accumulate an Imminent Bull Run?

• Whale accumulation indicates possible ETH rally.
• Supply reduction could boost Ethereum’s value.
• Investors are betting on self-custody, reducing sales.

Ethereum (ETH), despite failing to live up to expectations during its recent bull run, has maintained its relevance in the cryptocurrency market. Currently trading at around $2.200, ETH has seen a year-on-year decline of 42%.

Recently, the crypto community has expressed some skepticism about Ethereum’s potential to replicate the gains seen by other cryptocurrencies. However, new developments point to a possible appreciation. Ali Martinez, a well-known X user, highlighted a significant movement of whales who acquired 1,1 million tokens in just 48 hours, asking:

“Do they know something we don’t?” The purchase of these tokens amounts to a staggering $2,4 billion, calculated based on current prices. This move could suggest a reduction in the circulating supply of ETH, potentially boosting its future value through scarcity.

Whales bought 1.10 million #Ethereum $ ETH in the last 48 hours! Do they know something we don't? pic.twitter.com/ucSTelerNC

— Ali (@ali_charts) March 6, 2025

Interestingly, whales had already intensified their buying in late February, during a period of sharp bearishness in the market. At that time, the price of ETH fell to $2.100, but soon after, it experienced a rapid recovery, briefly surpassing $2.500.

Another promising factor for Ethereum is the recent trend in net exchange inflows. According to CryptoQuant, this metric has been registering negative values ​​in recent days, suggesting that more investors are preferring self-custody, which reduces selling pressure in the market.