Ethereum Price Hits 55-Day High as Whale Buys $50M Worth of ETH

• Ethereum price climbed to a 55-day high near $1,980, extending its monthly gains to roughly 30%
• A newly created wallet spent about 50.04 million DAI to buy 25,425 ETH at an average price of $1,968, according to Lookonchain
• Market optimism around tokenization and stablecoins continues to support Ethereum, with Bitwise CIO Matt Hougan recently describing the network as the leading blockchain play for both sectors

Ethereum’s price has quietly gathered momentum over the past month. The asset climbed nearly 30% and reached its highest level in almost two months. The rally has taken a different turn as investors look beyond short-term market swings, with new on-chain data pointing to renewed buying from large holders. One transaction in particular has caught traders’ attention. This has further led to discussions about whether Ethereum’s latest move has more room to run.

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Whale Accumulation Adds to Ethereum Price’s Bullish Momentum

Ethereum’s price climbed to a daily high of $1,980. This marked its highest level in 55 days before easing slightly. At press time, ETH was trading at $1,960.84 following a rise of 3.99% over the past 24 hours. The move pushed the cryptocurrency’s monthly gains to around 30%, according to market data. This comes as buying activity continued to build across the network.

The latest boost in Ethereum’s price came from a large on-chain transaction tracked by blockchain analytics platform Lookonchain. Data showed three newly created wallets, believed to belong to the same investor, spent 50.04 million DAI to acquire 25,425 ETH at an average purchase price of $1,968. Large purchases of this size are mostly referred to as Ethereum whale accumulation. It is closely watched because it can reveal growing confidence from notable investors.

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Institutional Confidence Extends Beyond ETF Flows

The buying activity comes as several market participants continue to make a long-term case for Ethereum’s price. Bitwise Chief Investment Officer Matt Hougan recently described Ethereum as the leading blockchain for both stablecoins and tokenization. He argued that investors continue to underestimate the opportunity created by real-world asset adoption.

This narrative has gained traction over the past year as financial institutions increasingly explore tokenized assets on Ethereum’s network. According to RWA.xyz, Ethereum remains the largest blockchain for tokenized real-world assets by total value.

Spot Ethereum ETF flows have been mixed in recent sessions. US-listed funds recorded $70.62 million in net outflows on Friday, ending a five-day inflow streak. Despite this, the products still finished the week with $103.9 million in net inflows.

Currently, traders appear to be focusing more on accumulation than short-term fund flows. With Ethereum price pushing to fresh multi-week highs and whale buying returning to the market, investors will be watching whether the cryptocurrency can build enough momentum to challenge the important $2,000 level.

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