Ethereum Price Rebound Triggers Speculation on Market Bottom

Ethereum's price has been on the rise, with its current value sitting at around $2,100. According to recent data from Arkham Intelligence, an early Ethereum wallet known as thomasg.eth has been rebuilding exposure to ETH over the past week.

This wallet added approximately $19.5 million in Ether across spot ETH, wrapped ETH, and Aave-deposited ETH, including a fresh $3 million purchase on March 20. At its peak in 2021, this wallet held about $537 million in crypto assets.

The accumulation of Ethereum by thomasg.eth comes as US spot Ether ETFs continue to record outflows, with net outflows totaling $55.7 million, $136.4 million, and $42 million over the past three days.