The post Ethereum whale gather millions, but THIS sparks doubts on ETH’s upside appeared on BitcoinEthereumNews.com.

Ethereum whale accumulation intensifies, but weak Network Growth and a negative MVRV Z-score suggest limited upside. ETH’s NVT Ratio spikes to 2044 as Large Holder Netflows drop, casting doubt on short-term sustainability. Ethereum [ETH] whale accumulation intensified as institutions add millions in ETH despite weakening on-chain signals. SharpLink Gaming added 1,989 ETH worth $4.82 million via an OTC deal just five hours ago. That pushed its total ETH holdings to 190,467 ETH, nearly $478 million, building on its earlier 188,478 ETH purchase. Source: Lookonchain Meanwhile, whale 0x1fc7, who staked 3,201 ETH a week ago, returned with another 1,888 ETH ($4.56M) buy, immediately deposited into the Beacon Chain. Yet, ETH hovered around $2,428, showing no signs of reacting. Naturally, this disconnect between bold accumulation and price inertia raises bigger questions. Is Ethereum’s sudden network surge already cooling off? Ethereum’s Network Growth briefly soared past 250,000 new addresses before collapsing back to 24,800, per Santiment data. This abnormal rise and crash may suggest speculative activity or short-term bot-driven bursts rather than sustained organic growth.  Having said that, sustained adoption needs consistency. If this decline sticks, ETH may find it harder to retain momentum at current levels, especially if the whales remain alone in their optimism. Source: Santiment Everyone’s underwater?! Ethereum’s MVRV Z-score dipped to -0.18, showing that many holders are now underwater. The shift could reduce profit-taking pressure and trigger a potential accumulation zone, as long-term investors tend to buy when MVRV falls into the negative territory.  This trend often aligns with market bottoms or at least short-term rebounds. Nevertheless, traders must wait for follow-through from other metrics before interpreting this signal as a green light. Source: Santiment Ethereum’s NVT explosion indicates THIS! ETH’s NVT Ratio surged to 2044, its highest in recent months. That kind of spike typically screams imbalance, where network…

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Filed under: News - @ June 29, 2025 1:01 am