As the market wavers, a strong signal emerges: whales are still massively accumulating Ether (ETH). Is this just a technical rebound or a long-term conviction towards an undervalued potential? Analysis of on-chain data and movements of crypto giants.
Santiment reveals several insights about Ethereum wallets holding between 1,000 and 100,000 ETH, known as market “whales” and “sharks.” They have accumulated an additional 1.49 million ETH in the last month. This represents a 3.72% increase in their collective holdings, now amounting to almost 27% of the total Ethereum supply.
Besides ETH accumulation, the data shows that these large institutional investors are closely monitoring the Ethereum DeFi ecosystem. The Ethereum Name Service recorded the highest surge in whale transaction activity during the second week of July. It is closely followed by the Ethereum lending protocol.
Meanwhile, shares of the sports betting platform SharpLink Gaming have plummeted by 73%. This decline follows a large volume of shares being registered for possible resale, leading to negative reactions among investors who had bought into the company’s Ether cash plan.
Despite massive capital inflows from large investors, the price of ETH has only seen moderate growth in recent weeks. It still remains far from its all-time high. This trend highlights the growing appetite of whales and sharks for the Ethereum ecosystem, while retail investors lock in their profits. Stay tuned in the coming days for developments in this ever-evolving market.
Investing in Ethereum is an opportunity worth exploring despite volatility, given its rebound potential. Here is a practical guide to acquiring it on Bitget with ease :
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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