Ethereum News Today: Whales Bet on ETH and ADA Rebound as Retail Investors Hesitate

Whales are increasingly concentrating their capital in Ethereum (ETH) and Cardano (ADA), according to on-chain analytics and market activity, while retail investors remain cautious amid broader crypto market turbulence. This trend, highlighted by Alphractal's Whale vs. Retail Delta metric, shows large investors aggressively building long positions, contrasting with outflows from retail-focused assets. Ethereum's recent recovery and ADA's post-chain-split rebound underscore the divergent dynamics between institutional and retail sentiment.

The shift is evident in Ethereum's accumulation patterns. A whale that liquidated a $144 million Bitcoin (BTC) position over three weeks has shifted focus to ETH, holding $85.55 million worth of the token as of November 24 according to on-chain data. Meanwhile, institutional-grade investors have expanded their ETH holdings, with wallets holding 10,000–100,000 ETH collectively owning 21 million ETH-a-record since the network's launch-and those with over 100,000 ETH now holding 4.3 million ETH according to market analysis. This accumulation coincides with shrinking exchange reserves, such as Binance's ETH holdings dropping to 3.764 million, suggesting a shift toward staking or offline storage.

Ethereum's fundamentals also attract long-term confidence. The Fusaka upgrade, which aligns protocol development with economic incentives, has bolstered ether's case as a value-accruing asset according to CoinDesk. However, the market remains volatile, with Ethereum ETFs bleeding $1.94 billion in outflows in the week ending November 24, according to CoinShares. Despite this, analysts like Ali Martinez have identified key support levels at $2,250, $1,550, and $1,080 as potential accumulation zones for ETH according to market reports.

Cardano (ADA) presents a contrasting narrative. The token briefly split into two chains on November 21 due to a malformed delegation transaction, exploiting a 2022 bug. The incident, attributed to a stake pool operator, caused a 16% price drop before stabilizing at $0.41. While the network recovered within 24 hours, the event exposed lingering technical vulnerabilities. Charles Hoskinson labeled the incident a "premeditated attack," contrasting with the operator's claim of a "personal challenge".

Despite the disruption, ADA has shown resilience. The Cardano Foundation recently approved a 5 million ADA ($2.07 million) treasury loan to expand global token listings, signaling efforts to strengthen the ecosystem. The loan marks a shift from grants to loans, emphasizing fiscal discipline, while the chain split's aftermath has prompted a post-mortem analysis to prevent future incidents according to market reports.

Retail investors, however, remain sidelined. Crypto funds recorded $1.94 billion in outflows last week, with Ethereum ETFs losing $589 million-7.3% of assets under management-according to CoinShares according to market data. This contrasts with whale activity, where a Hyperliquid "OG Whale" recently added $10 million to existing ETH longs, boosting their position to $44.5 million. Such moves highlight the growing influence of institutional-scale actors in shaping market direction.

The divergence between whale and retail sentiment underscores broader macroeconomic pressures. While Federal Reserve updates and macroeconomic factors will likely dictate future flows, the current landscape suggests that large investors are positioning for a potential ETH and ADA rebound, betting on Ethereum's upgrades and Cardano's post-split recovery. Retail participation, however, remains muted, reflecting caution in a market still reeling from a $20 billion liquidation event in October.