Ethereum Sharks Accumulated In Past Year, But Whales Sold

Ethereum’s market has seen a unique trend in the past year, indicating a contrasting behavior of the largest holders or investors in the cryptocurrency. While the big market sharks have been busy accumulating ETH, the whales or significant holders of the token have been selling. This trend points towards a certain level of uncertainty or diverse strategies in play, as different investor groups pursue their interests. Nonetheless, Ethereum has seen a steady growth in demand and popularity, indicating a bullish outlook for the cryptocurrency.

Santiment’s on-chain data reveals that Ethereum whales have been selling their holdings over the past year, while sharks have been buying more of the asset. The “Supply Distribution” metric shows what percentage of the Ethereum supply is being held by different wallet groups. The two groups of interest are the sharks and whales, holding large amounts of coins with their movements potentially affecting the price. The shark group’s holdings have followed an upward trend, adding 3.61 million ETH ($6.3 billion) to their holdings in the past year. In contrast, whales have distributed 9.43 million ETH ($16.4 billion) over the same period. Despite this distribution, whales still hold 51.4% of the total ETH supply, and sharks hold 28.8%. The current ETH price is around $1,700, up 33% in the last week.

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