The market for ETH is experiencing a period of high volatility, with the asset's price rising and falling like a roller coaster. Even so, whales (investors with millions of dollars in assets) on Binance maintain a buying pattern that suggests long-term positioning.

Data from analytics firm CryptoQuant shows that demand from these addresses registered on the world's largest cryptocurrency exchange has increased since July, with orders in both the spot and futures markets sustaining the accumulation.

CryptoQuant community analyst "Darkfos" explains that this trend follows the validation of a positive trend, confirming that large investors are waiting for consolidation before entering. This accumulation, he notes, could provide enough momentum for ETH to approach $5,000.

This behavior by whales on Binance reflects a strategy that often differs from that of retail investors. Darkfos points out that, although these addresses tend to enter after confirmation of a trend reversal, they are not immune to timing errors or bouts of panic.

However, the rate of accumulation observed in recent weeks constitutes key support that could sustain the asset's upward trajectory. "And it will likely provide enough momentum to push ETH towards the USD 5,000 level," the analyst reiterated.

The following chart better illustrates the growing accumulation of ETH by whales on Binance:

Whales on Binance have increased their ETH purchases. Source: CryptoQuant.

Institutional investors are also accumulating Ethereum

The presence of these whales on Binance in the ETH market adds to the weight of corporate reserves of this cryptocurrency. 10.8 million Ether are in institutional hands, of which 6.5 million correspond to ETF managers. BlackRock leads with 3.6 million Ether, followed by Grayscale with 1.9 million and Fidelity with 793,900 coins.

Additionally, 4.3 million ETH are held in custody by entities including publicly traded companies, decentralized autonomous organizations, foundations, and governments. Among them, BitMine Immersion Technologies holds 1.7 million ETH valued at $7.95 billion, followed by SharpLink Gaming with 740,800 ETH, and The Ether Machine with 345,400 coins.