Ethereum Whales Increase Holdings to 43% of Total Supply

Ethereum whales have increased their holdings significantly, now controlling approximately 43% of the total circulating supply of ETH, according to data from IntoTheBlock. The concentration of ETH in whale addresses has surged over 90% since early 2023.

Key Points

Whale addresses hold about 61.09 million ETH, a rise from 22% of the circulating supply earlier in 2023.
The increase is attributed to the Ethereum merge and the appeal of ETH staking for rewards.
Three whale addresses account for a substantial portion of this holding, primarily locked in the proof-of-stake system.
This reduction in circulating supply may lead to price appreciation due to decreased availability for trading.

The dynamics among investors and retail holders have shifted due to the accumulation by whales:

Investor addresses (holding 0.1% to 1% of the supply) own 15.2 million ETH, about 10.77% of the total supply.
Retail addresses, comprising over 99% of all ETH addresses, hold 46% of the total circulating supply.
A sell-off from investor addresses could significantly impact Ethereum's price.

Current ETH trading price: $3,225, down 2% in the last 24 hours.