Ethereum whales are increasing their holdings at an unprecedented pace, now controlling 43% of the total supply. This marks a significant leap from early 2023, when their share was just 22%.
The surge in accumulation is likely linked to the Ethereum Merge and the lucrative opportunities provided by staking.
The Ethereum Merge has not only transitioned the network to a proof-of-stake model but has also made staking a highly attractive option for large investors. This shift has driven Ethereum whales to amass more of the asset, strengthening their market influence.
Trump’s World Liberty (@worldlibertyfi), a prominent fund, has been actively moving large amounts of Ethereum. Approximately three hours ago, the fund deposited 1,038 ETH (valued at $3.44 million) to Coinbase. Over the last two days, it transferred a total of 14,611 ETH ($47.34 million) to the exchange at an average price of $3,240. Despite these transactions, the fund still retains 5,111 ETH, worth $17.12 million.
Ethereum spot ETFs are also seeing substantial interest. On January 16, the total net inflow into Ethereum spot ETFs reached $167 million. BlackRock’s ETF ETHA accounted for the majority, contributing $111 million in a single day. These inflows highlight the increasing institutional appetite for Ethereum as a viable investment.
The growing whale accumulation and consistent institutional demand signal a bullish outlook for Ethereum. With staking rewards and rising adoption fueling interest, Ethereum’s network fundamentals continue to strengthen, positioning it as a key player in the evolving cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: Bastian Riccardi on Unsplash // Image Effects by Colorcinch
The U.S. Supreme Court has delayed its highly anticipated ruling on the legality of President…
President Donald Trump has officially closed the door on any possibility of a pardon for…
Ethereum has officially crossed the ~$300 billion mark in application total value locked (TVL), solidifying…
The U.S. Securities and Exchange Commission has approved Bitwise’s spot Chainlink ETF, marking the first…
Rumble and Tether have officially launched the Rumble Wallet, a self-custodial crypto wallet integrated directly…
BNB Chain is preparing to activate its Fermi hard fork on January 14 at 2:30…