Ethereum Sees $12.5 Million Daily Inflow Amid Institutional Accumulation
Ethereum (ETH) is facing a critical point as it struggles to maintain its position above $2,600 amidst recent market pullbacks. Institutional support remains strong, with accumulation of ETH at lower prices.
BlackRock's Continued Investment
- On February 11, BlackRock reported a net inflow of $12.5 million into its Ethereum spot ETFs, raising total assets to $3.53 billion.
- Since inception, the Ethereum ETF has accumulated $4.44 billion in net inflows.
Whale Accumulation Increases Demand
- World Liberty Financial purchased 1,917 ETH for 5 million USDC.
- The fund holds $48.43 million in ETH, totaling 18.53K tokens.
- In the past week, Ethereum whales bought over 600,000 ETH.
- Whales holding 10,000 to 100,000 ETH have increased their holdings from 16.31 million to 16.98 million, a 4.1% rise.
- More than 1 million ETH have exited exchanges recently, indicating reduced selling pressure.
Technical Outlook
Ethereum's price pattern shows potential for a bullish reversal. The price is currently near a weekly support trendline and forms an ascending triangle with resistance around $4,000. Sustaining above this trendline may lead to further upward momentum.