Ethereum whales have been showing strong buying activity recently, accumulating a significant amount of ETH in the past 24 hours. This has pushed their total holdings to near 29.62 million ETH, signaling potential price rebounds. A closer look reveals key factors contributing to this momentum: a surge in ETH 2.0 staking locks removing approximately $130 billion worth of ETH from circulation and leading to a consistent supply squeeze; robust investor confidence reflected by Ethereum’s high participation rate in staking, and sustained institutional demand driving its market cap. This bullish trend is further reinforced by the growing ecosystem of tokenized assets on the Ethereum network, exceeding $300 billion in value.