Ethereum has grown by 200% since April

Ethereum ETH $4,283.25 Bridged Ether (StarkGate) -0.33% Market capitalization $0.1 billion VOL. 24 hours $0.93 billion is showing one of the strongest recoveries of the year: since April, its price has increased by almost 200% and is currently trading at around $ 4,366. Analysts attribute the rally to the active accumulation of large players and growing institutional interest, which forms strong price support for ETH.

According to Santiment, addresses with a balance of 1,000 to 100,000 ETH have added 5.54 million coins over the past five months, increasing their holdings by 14%. Recently, Lookonchain recorded a transfer of 34,000 ETH ($ 151 million) from Binance to the Aave protocol, indicating an intention to hold the assets rather than sell them.

At the same time, institutions are also strengthening their positions. BitMine Immersion Tech, through Galaxy Digital, acquired 14,665 ETH ($ 65 million) in six OTC transactions. In total, Ethereum treasuries already control about $ 15.83 billion in ETH, or 2.97% of the total supply. Additionally, Lookonchain reported the transfer of 65,662 ETH ($ 293 million) through FalconX to newly created wallets.

Another catalyst was Ethereum ETFs, which raised $ 3.87 billion in August, while Bitcoin ETFs lost $ 751 million: ETH gained almost 19% over the month, while BTC dropped by 3.5%. This strengthens Ethereum’s position as a key institutional asset and the foundation of the DeFi ecosystem.

However, ETH is still below its record high of $ 4,953 on August 25. Further movement depends on the activity of large holders. «Mega whales» with a balance of more than 10,000 ETH bought more than 2 million coins in August, but have now suspended purchases. Meanwhile, «medium whales» with 1,000−10,000 ETH resumed accumulation, adding about 400,000 ETH in a month. If the mega whales return to the market, ETH may update its historical high, but if not, growth will be slower but stable.