Whale accumulation of the second-largest cryptocurrency, Ethereum (ETH), has been intensifying amid the current market stabilization, as noted by analysts at the on-chain platform, IntoTheBlock, on May 31. Amid recent price declines in the market, large Ethereum holders began to accumulate tokens in their portfolios.

According to the survey, currently, 41% of the supply of ETH tokens is held by addresses responsible for more than 1% of the total supply. At the beginning of 2024, this percentage was above 36%.

“Whale accumulation in ETH has intensified. Currently, 41% of the $ETH supply is held by addresses with more than 1% of the total supply, up from 36% at the beginning of the year. This trend highlights the increase in confidence among large holders”, highlighted the analysis.

At the time of publication, the price of Ethereum was quoted at US$3,789.51, down 0.4% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$11,960,018,224.

Large ETH Holders Begin Accumulation

Amid recent market declines, whales of the second largest cryptocurrency on the market, Ethereum (ETH), began to accumulate tokens in their portfolios, moving from a selling mode to an accumulation mode, according to observations shared by Martinez recently. “There has been a notable increase in Ethereum addresses holding more than 10,000 $ETH, indicating a shift from distribution to accumulation!” he wrote.

Is the cryptocurrency Ethereum (ETH) headed for an imminent bull run? In a surprising turn of events, the US Securities and Exchange Commission (SEC) on May 23 approved the first Ethereum exchange-traded funds (ETFs), triggering more than 25% in gains for the market’s second-largest cryptocurrency.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/acumulacao-das-baleias-ethereum-se-intensifica-entenda/

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