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.
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Image Source: Bastian Riccardi on Unsplash // Image Effects by Colorcinch
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