Ethereum Whales Fuel Bull Run: On-Chain Signals Suggest Reaching $4K

Ethereum whales are signaling strong bullish sentiment with a surge in staking activity. The past month has seen 309,000 ETH flow into Ethereum staking contracts, reflecting confidence from long-term investors. This momentum is further propelled by institutional investments through Layer 2 networks and a decline in bearish hedge fund activities. Ethereum’s price has witnessed significant recovery in recent weeks, jumping from April lows of $1,385 to its May highs.