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Ethereum price sits around $2,012, down 12% from early May. Whales bought over $2 bn of ETH while ETFs see outflows, signaling strong institutional positioning.
Ethereum’s price fell about 12% to roughly $2,012, yet the largest non‑exchange wallets accumulated more than $2 billion worth of ETH between May 1 and May 29, a net gain of over one million tokens [1].
| At a glance | |
|---|---|
| Price | $2,012 |
| 24‑hour change | –0.3% (approx.) |
| Recent move | –12% since early May |
| Catalyst | Whale accumulation + institutional ETF inflows |
Santiment’s on‑chain data shows non‑exchange whale wallets grew from 124.15 million ETH to 125.17 million ETH, adding more than $2 billion at current prices [1]. The same period saw ETH’s price slide from above $2,300 to the current level, a 12% decline. Long‑term holders tracked by Glassnode have remained net buyers since late February, with the hodler net‑position metric staying green and even accelerating since mid‑May [1]. In contrast, smaller holders have been net sellers, driving the price drop.
Spot Ethereum ETFs have recorded $12.05 billion in cumulative net inflows, with a weekly peak of $187 million, indicating growing institutional demand [2]. BlackRock’s pending staked ETH ETF (ETHB) could further broaden exposure by offering staking yield to investors, while the upcoming “Glamsterdam” upgrade—targeted for June 2026—promises a 78.6% gas‑fee reduction and throughput of 10,000 tps [2]. Both the ETF flow and the upgrade are cited as primary drivers that could lift ETH toward the $4,000 mark later this year.
| Token metrics | |
|---|---|
| Staked supply | ~30% of circulating ETH |
| Large‑wallet holdings | 22.03% of total supply (wallets ≥100k ETH) |
The $2 billion whale accumulation does not guarantee a rally, but it places the biggest investors in a position to benefit if institutional inflows or the Glamsterdam upgrade spark a price bounce. The next few weeks will test whether on‑chain buying can translate into a meaningful recovery for Ethereum.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 5, 2026 · How we report
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The foundation laid off about 20% of its staff and cut its budget by 40%, alongside recent executive departures.
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