Ethereum Whale Wallets Reach Record Holdings, Signaling Potential Long-Term Bullish Trend

According to Odaily, recent data from Santiment reveals that 104 whale wallets currently hold at least 100,000 ETH each, collectively accounting for 57.35% of the existing Ethereum supply. This marks a historic high, with the total value of these holdings estimated at approximately $333.1 billion. In contrast, the supply held by wallets containing between 100 and 100,000 ETH has reached a historic low of 33.46%. Additionally, the proportion of supply held by wallets with less than 100 ETH is nearing a four-year low, standing at 9.19%. The increasing dominance of whale wallets in the Ethereum ecosystem is noteworthy, particularly as more ETH wallets are being integrated into decentralized finance (DeFi) and staking platforms. This trend is often considered a bullish long-term signal, especially when the most significant stakeholders of a token continue to accumulate. Given that Ethereum is a nine-year-old asset, the record-high proportion of tokens held by whale wallets suggests a potential positive outlook for its future market performance.