Analysts: Whales continue to accumulate ETH, which may drive ETH further rise.

On September 4th, Decrypt reported that as whales have increased their accumulation during the recent pullback in the crypto market, Ethereum is gradually turning bullish. Analysts indicate that with institutional funds continually flowing in, ETH may further rise in the future. According to data from on-chain analysis platform Santiment, whale addresses holding between 1,000 and 100,000 ETH have increased their holdings by 14% over the past five months. CEX analyst Ryan Lee stated, "Whales are reallocating their portfolios from Bitcoin (BTC) to Ethereum (ETH), which is driving the upward momentum of Ethereum, while the increased interest in its ecosystem and the upcoming ETF also provide support." According to Artemis data, the concentrated accumulation by whales aligns with a net inflow of $9.9 billion on the Ethereum blockchain over the past three months, along with an inflow of $6.7 billion in stablecoins. The influx of investors and funds reflects the resilience of Ethereum's Decentralized Finance (DeFi). Zilliqa CEO Alexander Zahnd stated, "The role of Ethereum has strengthened again, with activity notably flowing back from Layer 2 (L2) networks to the Mainnet, especially in the DeFi sector. For me, Ethereum is the preferred blockchain for institutions due to its maturity, security, and clear advantages of its development team."