Ethereum’s top 1,000 largest, wallets now hold 76.52 million ETH at the time of publication on May 26, reflecting that they rapidly acquired 510,000 ETH within the last 5-days.
Valued at the current ETH prices of around $3,855 per coin, this implies the whales invested over $1.95 billion since the Ethereum ETF approval.
As many large institutional investors look to front-run the bullish impact of the ETFs inflows, ETH price will like witness more whale demand, in the week ahead.
Ethereum Price Forecast: $5k target now in focus
Ethereum price is currently trading at $3,855, up 6% over the weekend. With the added market liquidity, and whale investors propensity for long-term holding, the $1.9 billion buying frenzy could be the beginning of an ETH price ascent towards new all-time highs above $5,000.