A new analysis reveals a staggering concentration of Ethereum holdings, with just 104 whale addresses controlling 57.35% of the total ETH supply.

Each of these addresses holds at least 100,000 ETH, collectively amounting to 83.81 million ETH—valued at an astonishing $333 billion. This marks the highest ever recorded holdings for this elite group, underscoring their influence in the Ethereum market.

Key Price Levels for Ethereum  

Ethereum’s price action is currently confined within a critical range. The key support zone lies between $3,030 and $3,130, while significant resistance is observed between $3,640 and $3,740.

A decisive break above or below this range will likely dictate the direction of Ethereum’s next trend, making this a pivotal period for traders and investors.

Bitcoin’s Institutional Activity  

Institutional players continue to show strong interest in Ethereum. Cumberland, a major trading firm, recently deposited 16,201 ETH (worth $55 million) to Coinbase, signaling heightened market activity. Additionally, Ethereum spot ETFs recorded a total net inflow of $131 million on December 23. BlackRock’s ETF ETHA led with inflows of $89.5 million, followed by Fidelity’s ETF FETH, which brought in $46.4 million.

Market Dynamics

The dominance of Ethereum whales and growing institutional investments highlight the evolving dynamics of the ETH market. With such a large concentration of supply in a few addresses and robust inflows into ETFs, Ethereum’s future will be shaped by the interplay between these major players and broader market sentiment. As traders monitor the critical support and resistance levels, the coming days could provide clarity on Ethereum’s next significant move.

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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