Ethereum Whales Strengthening Their Assets, Retail Participation Declining

Ethereum whales are significantly accumulating ETH during a period of declining retail investor activity, signaling a potential change in market dynamics.

According to the latest data, while major players are holding approximately 1.49 million ETH in total, there is a noticeable decline in retail participation and trading volumes. This situation indicates a cautious atmosphere prevailing in the market.

COINOTAG sources indicate that whales currently control approximately 27% of the circulating ETH, potentially signaling a positive bullish expectation in the long term despite the current resistance points.

Whale Accumulation and Market Strategy

In the past 30 days, Ethereum's largest wallets, whales, and accounts in the 'shark' category have increased their ETH holdings by approximately 1.49 million tokens. This increase signifies a significant dominance approaching nearly one-third of the total supply.

Sharp Decline in Retail Participation

In contrast, retail investors' interest in Ethereum is weakening. There has been a drop of over 26% in new addresses, and active addresses recorded a decrease of over 55% last week. High-value transactions are also declining, with a 45% drop in transfers exceeding $1 million and nearly a complete halt in transactions over $10 million. On the other hand, small transfers between $10 and $100 have more than doubled, indicating that investors are leaning towards short-term speculation.

These data reflect a cautious retail base that is avoiding large capital investments in uncertain market conditions.

Critical Price Resistance and Possible Scenarios

Ethereum is facing strong resistance in recent price movements between $2,550 and $2,650. This area is a critical zone where long positions have collectively been closed according to the liquidation heatmap. If this resistance is not broken, the market may face a rapid correction risk. However, a successful breakout could lead to the liquidation of short positions, accelerating upward momentum.

Therefore, the resistance zone is critical for the future of the ETH price; it is closely monitored whether the price will remain here or face downward pressure.

Funding Rate and Investor Sentiment

Ethereum's funding rate is currently around +0.0045%, indicating a slight long position bias among futures traders. However, this level is far from the high values typically seen before a strong price explosion. The lack of a significant accumulation in leveraged positions suggests that investors are being cautious and limiting their risks.

If there is no significant increase in the funding rate and open positions, it is likely that the market will remain in an uncertain position and investors will adopt a 'wait-and-see' strategy.

On-Chain Data Dynamics of Whales and Retail

Recent on-chain analyses indicate a notable shift in Ethereum ownership. Whales have increased their assets by 1.89% in the past month, while other large investors have seen a 14.48% increase. On the other hand, the share of retail investors has decreased by about 1%.

This capital redistribution symbolizes a shift from less committed and short-term thinking retail investors to strategic and long-term positioning by major players. Such concentration could reduce volatility in supply and increase the resilience of the Ethereum market.

While strengthening whale control may increase long-term bullish potential, it should be noted that retail investor participation remains a critical factor for the overall health of the market.

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