Giant Cryptocurrency Holders See Huge Gains: Is this a Significant Uptrend or a Looming Plunge?
Ethereum (ETH) is currently trading around $4,600, having gained over 4% in the past seven days. This growth comes as the cryptocurrency approaches its previous all-time high, which is acting as resistance.
In the latter half of 2024 and the early months of 2025, ETH saw massive staking inflow spikes. During this period, ETH traded between $2,000 and $2,500. Withdrawals remained high, suggesting that holders were choosing to secure their ETH off platforms, possibly for long-term storage or staking.
From June onwards in 2025, more ETH began leaving exchanges than entering. This trend continued through August and September, a time when ETH was trading near $4,500. Daily staking deposits ranged from 20,000 to 100,000 ETH from late 2024 to the first half of 2025.
Big inflows began around mid-2025, with the largest daily staking inflow in August at 300,000 ETH. However, staking inflows dropped to around 8,400 ETH in September 2025, the lowest daily level since late 2024.
As of September 2025, Ethereum wallets holding between 10,000 and 100,000 ETH have reached unrealized profits equal to the 2021 market peak. Charts tracking whale wallet performance show a return to the high-profit zone last seen before ETH's strongest rallies.
A report by Milk Road suggests that if ETH breaks through its old highs, the price could move toward $16,500. Traders are watching whether ETH can hold current levels and close above resistance. Large outflows are often linked to reduced sell-side activity as coins are moved off exchanges.
In early 2025, Ethereum saw large volumes of ETH moved onto exchanges, typically signaling selling. However, outflow spikes ranged from 200,000 to 400,000 ETH, a behavior change that came as ETH started recovering and climbing past $4,000.
In 2017, whale wallets saw unrealized profits peak at around $15 billion, while by 2021, this figure had grown to more than $45 billion. As of September 2025, the level of unrealized profits for whale wallets has been matched.
It's important to note that the author of the Milk Road report mentioned in this article is not explicitly named in the provided search results.
If ETH does close above its previous high, a new upward phase could follow. If not, the market may remain in consolidation. The current trend suggests a bullish outlook, but it's crucial to remember that the cryptocurrency market can be volatile.
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