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On Ethereum, billionaire whales are holding about 32% of the available supply for the first time since 2016. According to data from Santiment, there is a concentration among these large ETH holders. In addition, Ethereum transactions exceeding $1 million reached a record high. According to data from Glassnode, Ethereum whales holding 1,000 or more ETH have begun to reduce their holdings and have sold around $20 million worth of ETH since 2020. However, Bitcoin whales seem to be protecting their assets. How Ethereum sales and whales' behavior will affect the price of ETH will become clear over time.
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