Ethereum’s market momentum is accelerating as large investors expand their holdings and price forecasts point to a bullish year-end.
According to on-chain analytics from Alphractal, addresses holding between 10,000 and 100,000 ETH have been accumulating aggressively since April. This group, historically one of the most influential in Ethereum’s market cycles, now controls nearly 31 million ETH, an all-time high. Analysts note that this cohort’s behavior has closely correlated with previous bull runs, particularly in 2017 and 2021, when whale accumulation preceded major price rallies.
The continued buildup suggests growing confidence among high-net-worth and institutional investors in Ethereum’s long-term fundamentals. Alphractal emphasizes that such large holders tend to act as a “smart money” signal, often accumulating before significant upward price moves.
Data from CoinMarketCap shows Ethereum trading at $3,985.79 as of October 26, marking a 1.07% daily increase and pushing its market capitalization to $481 billion. Despite a 43.5% drop in trading volume to $15.18 billion, ETH has shown resilience around the $3,900 level, a price zone that many traders consider a springboard toward retesting yearly highs.
Ethereum’s circulating supply remains 120.69 million ETH, and on-chain activity continues to rise amid institutional accumulation, stable staking yields, and optimism surrounding new product integrations in the DeFi ecosystem.
Forecast data from CoinCodex supports this bullish sentiment. Analysts project Ethereum to trade between $3,936 and $6,053 by December 2025, representing a potential 51.94% upside from current levels. The model places Ethereum’s average price for November at $5,052.89, reflecting expectations of continued momentum as investor demand accelerates into Q4.
The upward revisions are driven by several key catalysts:
With whale wallets now holding a record 31 million ETH, strong on-chain signals align with optimistic forecasts from analysts. Historically, this level of accumulation has preceded exponential rallies — and with Ethereum’s fundamentals strengthening, many view the current price range as the base of the next major uptrend.
As Alphractal concluded, “These large holders seem remarkably confident in Ethereum’s future.” If historical patterns hold, that confidence could soon translate into one of Ethereum’s strongest year-end performances in recent years.
