Whales accumulate 1.5 million Ethereum in 30 days

A report from Santiment highlights that while large investors increase their holdings, retail investors are taking profits. The price of ether (ETH) remains above $2,500.

Whale movements could impact the price of ETH.

Over the past 30 days, whales have accumulated 1.5 million ether (ETH), the native currency of Ethereum, equivalent to $3.78 billion at today's price, June 15.

Data shows that whales (investors who hold more than 1,000 ETH) increased their holdings by 3.72% and now control 26.98% of the total supply of ether. Analysts at Santiment, a firm specializing in on-chain data analysis, emphasize that whale behavior suggests institutional investors have adopted a long-term accumulation strategy for Ethereum's native cryptocurrency. Meanwhile, analysts from the firm indicated that small investors have been selling off their ETH to take profits.

Amid these movements, the price of ETH at the time of publishing this note is $2,520.