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#BTC Market Analysis
#EthereumMarket
Summary of Ethereum's performance until the end of May:
Ethereum is back in the spotlight in May; as whale investors and exchange-traded funds fuel a 46% rise.
Ethereum seems to have finished May as its first positive month in 2025, with a monthly return of approximately 46%, according to the data. This shift in Ethereum's upward momentum during the month follows the easing of tariff pressures after the United States reached trade agreements with several countries, including the United Kingdom and China temporarily.
Positive macroeconomic indicators have stirred bullish sentiments among Ethereum whales, as addresses holding between 10,000 and 100,000 Ethereum increased their holdings from 16.50 million Ethereum to 17.62 million Ethereum in May – an increase of 1.12 million Ethereum, representing the largest monthly buying pressure from whales on Ethereum since July 2022.
The sentiment was similar in Ethereum funds traded on the U.S. spot market, which recorded net inflows of $493.94 million so far in May, raising their total inflows for 2025 to a positive level. Notably, these products recorded net inflows of $91.93 million on Thursday, extending their positive inflow streak to nine consecutive days.
The open interest value of (OI) for Ethereum also increased by 43% over the month, from $12.18 billion to $17.53 billion. The value of open interest is defined as the total value of unsettled contracts in the derivatives market.
As the weekend approaches, investors have returned to net buying, with Ethereum exchange flows turning into a net outflow of over 114,000 Ethereum on Friday, marking the end of a three-day wave of inflows. Unlike exchange-traded funds, net outflows indicate dominant buying pressure in the spot market.