Ether Whales and Sharks Boost Holdings to 1.49M ETH Amid Retail Retreat
Ether maintained its $2.5K price level amid outflows from spot ETFs, as whale and shark wallets accumulating between 1K and 100K ETH collectively added 1.49 million coins, elevating their share of the total supply to 27%.
Ethereum's top holders - known as whales and sharks in the crypto community - have significantly increased their ETH holdings over the past 30 days, accumulating a combined total of 1.49 million ETH. This surge in holdings comes at a time when retail investors are pulling back from the market, with many choosing to stay on the sidelines amidst market uncertainty.
The price of Ether has managed to hold steady at $2,500 despite the outflows from spot ETFs. The increased accumulation by whale and shark wallets, which typically hold between 1,000 and 100,000 ETH each, has contributed to their growing dominance in the market, now accounting for 27% of the total ETH supply.
This trend suggests that large institutional players and sophisticated investors continue to see value in Ethereum, even as smaller retail investors adopt a more cautious approach. The actions of these whales and sharks could have implications for the future price movements of ETH, as their trading activity often influences market sentiment and direction.