As the market wavers, a strong signal is emerging: whales continue to accumulate massive amounts of Ether (ETH). Is this a simple technical rebound or a long-term conviction facing a potentially undervalued asset? Analysis of on-chain data and the movements of crypto giants.
ETH: The discreet movements of institutional investors
The company Santiment reveals several insights about Ethereum wallets holding between 1,000 and 100,000 ETH, which are the 'whales' and 'sharks' of the market. They have accumulated an additional 1.49 million ETH over the past month. This represents an increase of 3.72% of their collective holdings, which now account for nearly 27% of the total Ethereum supply.
Beyond the accumulation of ETH, data shows that these large institutional investors are closely interested in Ethereum's DeFi ecosystem. The Ethereum Name Service recorded the highest increase in whale transaction activity during the second week of July, closely followed by the Ethereum lending protocol.
Ethereum in the gray zone: Accumulation by some, panic by others
Meanwhile, shares of the sports betting platform SharpLink Gaming have dropped by 73%. This decline follows the registration of a large volume of shares in view of a possible resale. This has caused negative reactions among investors who had adhered to the company’s treasury plan in Ether.
Despite these massive inflows of capital from large investors, the price of Ethereum has only progressed moderately in recent weeks. It is still far from its historical record. This trend highlights the growing appetite of whales and sharks for the Ethereum ecosystem, while retail investors take their profits. Stay tuned in the coming days for developments in this rapidly changing market.
