Ethereum Whales Accumulate Record Share of Total Supply

Ethereum's largest stakeholders are positioning themselves for the long term, with large holders increasing their share of the total supply. According to on-chain analytics firm Santiment, wallets holding at least 100,000 ETH now collectively control 22.03% of all Ethereum in circulation.

This marks a clear shift back to accumulation after a period of distribution and is particularly notable given Ethereum's recent price dip below $2,000. Whales, however, appear to be interpreting this downturn as a buying opportunity rather than a reason to exit.

The divergence between retail sentiment and whale behavior is a recurring pattern in crypto markets. When smaller holders grow pessimistic during price corrections, large investors with longer time horizons often step in to accumulate at discounted levels.