Whale Activity Driving Ethereum Price Surge Despite Retail Skepticism

Ethereum (ETH) is on the verge of hitting its all-time high of $4,891, achieved back in November 2021. Currently, ETH stands just 6% away from this milestone, according to market data, trading near $4,620 after a 27% surge in the past week. While retail traders are selling their holdings in disbelief at this rapid climb, large investors, commonly referred to as whales, are purchasing these coins from skeptical buyers.