According to the market data provided by Santiment, Ethereum (ETH) whales have been buying large amounts of ETH for about a week to turn the decline into an opportunity.

A chart tracking the number of major Ethereum (ETH) addresses has seen the asset's price drop almost 30% over the past few weeks, followed by a strong rise, due to the correction in both the financial and cryptocurrency markets.

   "#Ethereum is hovering just below $2,500 once again after bottoming out at ~$2,170 just 3 days ago. #Dipbuyers can be happy knowing that whale addresses holding 10k or more $ETH have added 200k $ETH from weak hands since January 20, worth ~ $497.2M."

ethereum whale 200k more eth

The increase visible on the chart was the strongest since November, when Ethereum's (ETH) price surged to $4,820, then to $5,000.

After the whale buying activity, retail traders also joined the rally and started buying a lot of ETH. As the same data shows for addresses with multiple ETH, the number of small wallets has already reached 1.4 million.

ethereum eth

With the emergence of strong buying power in the market, Ethereum (ETH) jumped from $2,170. But due to questionable sentiments in the cryptocurrency industry, the market has not yet entered full recovery mode.

Ethereum (ETH) is trading at 15% profit from the local low with relatively low volatility ahead of the FOMC meeting, which could significantly impact both the crypto and traditional markets. According to statistical data, the crypto market tends to fall further after each meeting. But at the same time, at least three meetings have resulted in short- and medium-term bounces for the digital asset market.

Ethereum to Reach New Highs

ARK Invest has made crazy predictions for the digital asset industry, specifically Bitcoin and Ethereum. According to Art Invest, Ethereum will reach crazy values in 2030. Ark expects mind-blowing capitalization growth with the further development of decentralized finance that scales significantly better than traditional banking solutions.

Besides, DAOs (Decentralized autonomous organizations) can become a new standard of solution and coordination with the help of an economic base to support. Ethereum, the second biggest name in the crypto world, is also among the ones mentioned in the increase forecasts. Ark thinks that Ethereum will become a popular alternative for mainnet transactions once it hits new highs for fees.