Ethereum Whales Accumulate 1.49 Million Tokens in 30 Days

Ethereum (ETH) has witnessed a notable surge in accumulation by large holders, commonly referred to as whales and sharks. Over the past 30 days, wallets holding between 1,000 and 100,000 ETH have accumulated 1.49 million tokens, now controlling nearly 27% of the total supply. This accumulation trend is indicative of a growing confidence among key investors in the potential of Ethereum. The behavior of these large holders suggests a long-term outlook, as they now control a significant portion of Ethereum’s total supply.

This accumulation trend is not limited to Ethereum itself but extends to Ethereum-related projects. There has been a notable surge in whale transactions within the Ethereum Name Service, with a 313.5% increase, and a 203.8% rise in large-holder activity in Ethereum-based lending protocols. This suggests that these investors are not only bullish on Ethereum but also on the broader ecosystem built around it. The concentration of holdings among a relatively small number of large investors highlights the significant influence these entities have on the market. Their actions can often drive market sentiment and price movements, making their accumulation a key indicator of potential future price trends.

The accumulation by whales and sharks comes at a time when retail investors have been pulling back. This divergence in behavior between large holders and retail investors is a common phenomenon in the crypto market. While retail investors may be more susceptible to short-term price fluctuations and market noise, large holders often take a longer-term view, focusing on the fundamental strengths of the asset. This behavior is occurring in a context where retail investors have largely opted to take profits. The contrast between the decisions of large and small players suggests a long-term outlook among the former, who now control nearly 27% of Ethereum’s total supply. This marks a significant concentration of coins in the hands of high-net-worth individuals and institutions.

Beyond the spot market, institutional interest has become increasingly evident in Ethereum-linked exchange-traded products (ETFs). BlackRock’s iShares Ethereum Trust, for instance, has added more than $500 million worth of ETH during June alone, raising its total holdings to over 1.5 million coins. Other major players such as Cumberland and Galaxy Digital have also been expanding their exposure, further reinforcing the ongoing accumulation trend by deep-pocketed investors. This movement coincides with a notable surge in trading activity. Ethereum’s daily spot trading volume has jumped more than 30% in the past 24 hours, reaching $14.27 billion. Meanwhile, open interest in ETH futures is approaching $35.13 billion, suggesting heightened expectations of near-term price action and increased market participation.

From a technical standpoint, Ethereum is trading just below its 20-day moving average, with Bollinger Bands beginning to tighten. This often precedes a breakout, especially if ETH manages to breach the $2,600 level on strong volume. The next key resistance lies around $2,870, and a close above it could open the door to a push toward $3,000. Momentum indicators are showing early signs of recovery, with the MACD potentially crossing above its signal line. If confirmed, this would signal renewed bullish momentum backed by growing institutional confidence and reduced retail selling pressure. The behavior of major players reinforces confidence in fundamentals as a strategic asset in the decentralized financial ecosystem.

In conclusion, the accumulation of Ethereum by whales and sharks is a significant development that underscores the growing confidence in the asset among key investors. This trend, coupled with the increasing activity in Ethereum-related projects, suggests that Ethereum is well-positioned for future growth. As always, investors should conduct their own research and consider their risk tolerance before making any investment decisions.