Bitrabo Editorial
Recent blockchain analysis indicates that Ethereum whales are increasing their cryptocurrency holdings, leading to a heightened portion of total supply under their control.
Ethereum Whales Control Approximately 43% of Total Supply
A recent update from market analysis platform IntoTheBlock, posted on X, highlights the current distribution of Ethereum supply among key holder categories within the network.
These categories are divided based on the size of holdings, with three primary groups identified: Retail, Investors, and Whales.
The Retail group consists of the smallest holders, those with less than 0.1% of the circulating ETH supply. This group primarily represents everyday investors whose market influence is minimal.
As holders exceed the 0.1% threshold, they enter the Investor category, which consists of individuals with a slightly more significant stake, although their impact remains limited until they reach the 1% mark.
Whales, on the other hand, own more than 1% of the ETH supply, which equals over $2.83 billion based on the current market rate, making them the most influential players on the network.
Below is the chart provided by the analytics platform, illustrating how Ethereum supply distribution has evolved among these three groups throughout the blockchain’s history.
The chart reveals that the Retail group currently holds nearly half of the circulating Ethereum supply, accounting for 48% of the total, while Whales control 43%.
Historically, however, Whales did not always maintain such a substantial portion of the supply. In the past few years, their market share has significantly increased.
This spike in accumulation among large holders corresponds with heightened interest in Ethereum, particularly after the Shanghai Upgrade in 2023.
The Shanghai Upgrade was a pivotal hard fork of the Ethereum network that allowed investors to unstake their previously locked holdings from the Proof-of-Stake (PoS) contract.
This uptick in Whale accumulation can be attributed to renewed investor interest in staking, facilitated by the new withdrawal options.
Many holders likely utilized staking pools, which maintain significant holdings, driving up the share held by these Whale entities.
While the growing accumulation by Whales could suggest positive future price movements, the increasing centralization of supply among a limited number of platforms or investors carries potential drawbacks.
Current ETH Price
As of the latest update, Ethereum’s price sits at approximately $2,350, reflecting a decline of over 4% in the past week.