Rising to $1,820 on May 7, 2025, Ethereum (ETH), the second-largest Cryptocurrency Market capitalisation worldwide, showed one of its most robust rises in recent times. A noteworthy increase in the number of big holders—or “whales”—with at least 1,000 ETH each has driven some of the price surge. Analyzers see this substantial rise in whale activity as a strong positive sign pointing toward rising investor confidence and the possibility of further momentum.
Ethereum Whale Surge
The word “whale” describes people or organizations possessing appreciable bitcoin holdings. For Ethereum, a whale is usually understood as an address owning at least 1,000 ETH. On-chain analytics systems indicate that the count of such addresses has now exceeded 5,000 for the first time since mid-2022. From major investors, the graph shows a notable increase in interest.
Whales typically gather during times of consolidation or expected expansion, and their increasing presence is sometimes considered foreshadowing a more general market comeback. In Ethereum’s case, the timing is especially important: even if ETH prices stayed rather constant in the $1,500–$1,700 region, whales have been progressively raising their holdings since the beginning of the year. The latest push beyond $1,800 suggests that these whales’ aspirations may be materializing now.
Ethereum Supply Crunch
Another key factor driving the bullish narrative is the decreasing supply of ETH on centralized exchanges. When investors move their assets off exchanges and into cold storage or DeFi platforms, it typically indicates a long-term holding strategy. As of early May, the total ETH held on exchanges has dropped to a 10-year low, with less than 9 million ETH available for trading.
This reduction in circulating supply puts upward pressure on prices, especially as demand remains steady or increases. With fewer tokens available for purchase on the open market, price spikes can occur more rapidly. This basic principle of supply and demand is being clearly demonstrated in Ethereum’s current rally.
Ethereum Bullish Signals
From a technical standpoint, Ethereum’s chart exhibits hopeful trends. On ETH’s weekly chart, analysts have noted the creation of a promising “cup and handle.” This classic technical pattern usually indicates a continuance of rising price movement. Should the trend continue, Ethereum might retest resistance levels around $2,000 before aiming higher in the $2,400–$2,800 spectrum.
The number of ETH holders in profit right now is another encouraging indicator. Blockchain statistics firm Santiment claims that around 90% of Ethereum wallets are green now. This typically indicates a positive market sentiment, as most investors are holding out for profits and are less likely to sell aggressively during minor dips.
Ethereum Strengthens Market
In Q2 of 2025, the crypto market overall has been displaying indications of revived strength. Leading digital asset Bitcoin has also shown increasing momentum, which usually helps support altcoins like Ethereum. Additionally, there appears to be a renewed rise in institutional interest. Using both spot purchases and Ethereum futures contracts, some big asset managers and hedge funds have raised their Ethereum’s price.
Besides, Ethereum’s long-term foundations are still strong. By switching to proof-of-stake via the Ethereum 2.0 update, the network has greatly increased energy efficiency and lowered token issuing, therefore creating deflationary pressure on the ETH supply. The release of scaling solutions like layer-2 platforms—e.g., Arbitrum and Optimism—has strengthened Ethereum’s standing as the pillar of Web3 innovation and distributed finance (DeFi).
Ethereum Market Outlook
Despite the positive signals, it’s important to acknowledge that the crypto market is highly volatile. Short-term corrections are common, even during bull markets. Geopolitical uncertainties, regulatory shifts, or sudden moves by large holders can all impact price stability. Traders and investors should remain vigilant and consider both technical and macroeconomic factors when making decisions.
That said, the confluence of whale accumulation, reduced exchange supply, favorable technical patterns, and strong on-chain fundamentals provides a compelling case for continued strength in Ethereum’s price. Should current trends persist, ETH could break through the psychologically important $2,000 mark in the coming days or weeks.
Final thoughts
Along with the growth of whale wallet counts to over 5,000, Ethereum’s ascent to over $1,820 on May 7 emphasizes the mounting confidence among both retail and institutional investors. Macro trends, technical research, and on-chain data point to a possible start of a more general ETH surge. Although caution is always justified in the erratic world of cryptocurrencies, Ethereum’s near-term future seems bright, and the market will be closely observing to see whether it can maintain this increasing momentum.
