Wrapped Ethereum (WETH) has recorded its highest level of whale activity in more than five years, signaling a sharp increase in large scale capital flowing through the Ethereum ecosystem as institutional interest continues to strengthen.
According to on chain analytics platform Santiment, more than 113,000 WETH transactions valued above $100,000 were recorded over the past week. The figure marks the highest weekly total since May 2021 and suggests that major investors are actively deploying capital across Ethereum’s decentralized finance ecosystem rather than leaving assets dormant.
Santiment noted that the surge comes alongside several developments pointing to rising demand for Ethereum.
Among the biggest catalysts are accelerating inflows into US spot Ether exchange traded funds, with BlackRock’s Ethereum products attracting a significant share of recent institutional investment.
The analytics firm also highlighted growing activity on Robinhood Chain, which relies on Ethereum for transaction fees. Since its launch on July 1, the network has processed substantial decentralized exchange trading volume, further increasing Ethereum network usage.
Institutional adoption is expanding beyond investment products as well. Santiment pointed to growing corporate treasury exposure, citing Bitmine’s reported holdings of approximately 5.8 million ETH. The firm also noted support from Bitmine, SharpLink, and Ethereum co founder Joe Lubin for Ethlabs, an initiative designed to meet increasing institutional demand for Ethereum based services.
While Santiment cautioned that rising whale activity alone does not guarantee higher prices, it believes these developments reflect strengthening fundamentals that deserve close attention.
Ethereum has also maintained positive price momentum. At the time of writing, the second largest cryptocurrency was trading around $1,934, representing gains of nearly 9% over the past week and approximately 4.5% during the previous 24 hours.
Crypto analyst Ali Martinez recently identified $1,850 as Ethereum’s key support level, suggesting that holding above this zone could open the door for a move toward $2,300.
MN Trading founder Michaël van de Poppe shares a similarly optimistic outlook, arguing that maintaining support above $1,800 would likely allow Ethereum’s upward trend to continue.
Meanwhile, analyst Tony Research believes Ethereum could first reclaim the $2,000 level before advancing toward $2,200, particularly if Bitcoin climbs to $70,000.
However, the analyst expects any short term rally to be followed by a period of distribution lasting between seven and ten days. That phase could eventually lead to a deeper correction into a range between $1,260 and $890, which Tony Research views as an attractive dollar cost averaging opportunity before the next major bull market begins.
Under that longer term scenario, Ethereum could eventually target the $7,000 level as the next bullish cycle unfolds.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
