Ethereum whales, sharks keep buying up ETH as retail cashes out
Major Ethereum holders, including wallets with 1,000 to 100,000 ETH, have acquired a net total of 1.49 million ETH (valued at $3.79 billion) over the past month, increasing their holdings by 3.72%. These wallets now control 41.61 million ETH, nearly 27% of the total supply. Retail investors are cashing out during this period. Whale activity in Ethereum's DeFi space has surged, with Ethereum Name Service transactions rising by 313.5% and lending protocols by 203.8%. Despite increased whale buying, Ether's price has only risen 1.8% and 3.8% over the last 14 and 30 days, trading at $2,575, down nearly 48% from its all-time high. Institutional confidence is reflected in a recent 19-day inflow streak for spot ETH ETFs, totaling $1.37 billion, which ended with a $2.1 million outflow. Additionally, shares of SharpLink Gaming fell 73% after a filing to register shares for resale, linked to its Ether treasury plan, which was misinterpreted by investors.
