Market analysis firm Santiment, Ethereum (ETH) 
$2,623 He states that whales are actively accumulating, which signals a possible recovery in the markets.
Increase in Whale Activity
In his statement on the social media platform X, Santiment announced that a significant increase was observed in the transaction volume of Ethereum whales. This rising interest from whales gives hope that the leading altcoin may begin a rally soon.
According to data, 6,428 new Ethereum wallets were created on October 24. This was recorded as the highest daily wallet opening since September 5. The increase in the number of new wallets shows that demand for Ethereum is gaining momentum.
Possible Market Factors
Santiment also emphasized that the level of FUD (fear, uncertainty and doubt) is rising across the market and that the growing interest in memecoins cannot be ignored. The firm suggests that these two factors could contribute to a recovery in the market within a few days.
“Ethereum’s whale activity has reached a six-week high even as its price dropped to as low as $2,380 on Friday. Based on historical data, this is an accumulation signal from major investors. “Although it does not guarantee that prices will recover quickly, this is encouraging,” he said.
In this process, Solana, Jito, Cosmos 
$4 Projects such as and Jupiter were also among those that attracted attention. While increasing interest in Memecoins continues, Bitcoin 
$71,218 It is observed that the price follows a stable course.
If these trends continue as the market heads into the weekend, investors could watch for a higher level of FUD. This may indicate that the market may recover at the beginning of the week.
Current Ethereum Price and Expectations
At the time of publication, Ethereum was trading above $2,600. ETH gained 1.9% in the last 24 hours. This accumulation by large investors and the increase in the number of new wallets show that Ethereum may gain value in the short term. Considering the increase in demand for Memecoins, it seems possible that Ethereum will rise in the overall market.
Investors can develop strategies in line with market trends by monitoring these developments closely.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
