Oh, Ethereum is weighing down the entire altcoin market!

Glassnode: Recently, whales holding over 10,000 ETH are accelerating their accumulation, outpacing the level before the 95% ETH rise in mid-2022.

Glassnode data shows that whales holding at least 10,000 ETH are accelerating their accumulation, and the pace even exceeds that before the 95% rise in ETH in mid-2022. As of this Monday, the total amount of ETH held by these whales has rebounded from the historical low of 37.56 million in October 2024 to 41.06 million, an increase of 9.31%. This growth rate is nearly double that during the period from May to September 2022 (when the ETH price rose from about $1,000 to $1,950). A similar situation occurred from November 2020 to January 2021, when whale holdings increased by 4%, and the ETH price soared from $460 to $1,220. History shows that whales tend to start accumulating before the market fully takes off. Glassnode data indicates that the $2,500-$2,536 range is the strongest accumulation area recently, with over 3.45 million ETH's cost basis concentrated here, forming a key support level. $ETH