Mega whales" are indeed accumulating Ethereum (ETH) at a significant rate.
Whale Addresses: The number of Ethereum wallets holding 10,000 or more ETH has increased by 8% in recent weeks, according to data from Santiment. One analyst noted that some of the largest holders have accumulated over 220,000 ETH, worth about $840 million, in just two days.
Institutional Inflows: Institutional interest is also surging, with Ethereum-based investment products recording 15 consecutive weeks of inflows. BlackRock's iShares Ethereum Trust alone has seen $1.7 billion in inflows over 10 trading days.
Corporate Accumulation: Companies like SharpLink Gaming and BitMine Immersion Technologies are aggressively adding Ethereum to their treasuries. SharpLink, for instance, acquired 83,561 ETH in a single week, bringing its total holdings to over half a million ETH.
This behavior suggests a high level of conviction among large investors, who are positioning themselves ahead of potential future price movements. The market is seeing a classic wealth transfer from smaller retail traders taking profits to strong hands with long-term confidence.
The combination of new institutional capital and aggressive accumulation from whales paints a bullish picture for Ethereum's futures