Ethereum Whales Accumulate 411,000 ETH During Price Drop to $4,200
Ethereum recently dropped to $4,200, but large holders, known as 'whales,' have increased their positions significantly. On-chain analytics indicate intensifying accumulation among these investors despite market volatility.
Key Highlights
- Whales and sharks (wallets holding 1,000 to 100,000 ETH) have boosted holdings by 14% over the last five months.
- Mega whales (over 10,000 ETH) contributed to Ethereum's earlier rally with net inflows of 2.2 million ETH in 30 days.
- Large whales (holding between 1,000 and 10,000 ETH) added 411,000 ETH recently, indicating confidence at current price levels.
- ETH has rebounded to above $4,380 after the crash, showing resilience with a 1.41% increase in the past week and over 21% in the last month.
Despite this recovery, analysts caution about a potential minor distribution phase for Ethereum. Concerns persist regarding the broader altcoin market showing signs of weakness, raising the possibility of a 20% decline across the sector.
