Ethereum Resilience: $90–100B Daily Stablecoin Settlement and Rising Whale Accumulation
Ethereum has underperformed price-wise in 2025, trading about 12% down year-to-date as capital rotated into traditional assets such as gold and equities. Despite weak price action, on-chain data show the Ethereum Mainnet remains the dominant settlement layer for dollar-denominated stablecoins, processing roughly $90–100 billion in transfers daily (primarily USDT and USDC). Analytics from OnChainHQ and Chainalysis indicate Ethereum handles over 70% of stablecoin transfer value, favored for finality and security in large payments and treasury operations. Updated on-chain metrics (e.g., Glassnode) also show continued accumulation by large holders and long-term addresses: inflows to accumulation wallets have increased around realized-price levels even as whale profits compress toward zero. Together, sustained high stablecoin settlement volume and rising whale accumulation suggest persistent liquidity demand and reduced immediate selling pressure on ETH. Key takeaways for traders: monitor stablecoin flow and accumulation-address inflows as leading liquidity indicators; short-term price may remain pressured by macro capital rotation, but robust settlement utility and whale buying point to a cautiously bullish medium- to long-term outlook for ETH.
Bullish
The combined on-chain signals point to constructive implications for ETH price over the medium to long term. High daily stablecoin settlement volume ($90–100B) indicates persistent demand for Ethereum as a dollar liquidity settlement layer — a structural utility that supports long-term token value. Concurrently, increased inflows to accumulation addresses and whale buying near realized-cost levels suggest reduced selling pressure and patient holders who may defend or add to positions rather than liquidate. These factors should limit downside and provide support levels, making the news bullish for ETH. Short-term risks remain: macro capital rotation into traditional assets can keep price under pressure and compress whale profits to near zero, meaning rallies may be muted until broader risk-on flows return. For traders, the likely market behavior is: limited downside and potential for gradually improving price action as settlement demand and accumulation continue, favoring cautious long/accumulation strategies while managing short-term macro-driven volatility.