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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Ethereum Whales Control 43% Of Supply – What This Means For Retail Traders

Scott Matherson
Scott Matherson
7 months ago
3 mins read
Ethereum

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Large holders of Ethereum, also called Ethereum whales, have been on an accumulation trend for a while now, with on-chain data revealing a fascinating increase in their collective holdings. Particularly, data from blockchain analytics firm IntoTheBlock shows that Ethereum whales now hold about 43% of the total circulating supply of ETH.

The imbalance in ETH holdings raises important questions about its implications for Ethereum’s price and market dynamics moving forward.

Whale Accumulation Surges By Over 90% Since Early 2023

According to IntoTheBlock, the total concentration of ETH in whale addresses is currently at 61.09 ETH, which represents about 43% of the total supply. This marks a significant shift from early 2023, when whales held just 22% of Ethereum’s circulating supply. IntoTheBlock classifies whale addresses as those holding more than 1% of the total circulating supply of ETH.

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The nearly twofold increase in Ethereum whale holdings within just a year is a noteworthy development. Naturally, such a concentration of a large supply of cryptocurrency into a few wallets would spell doom for the asset, as it would mean a few players would be able to manipulate price dynamics as they wish. However, Ethereum’s case deviates from this narrative due to the unique nature of its ecosystem and recent structural shifts within the network since 2022.

The sharp rise in whale concentration can be attributed to two major factors: the Ethereum merge and the growing appeal of ETH staking to earn rewards. The Ethereum merge, which took place in 2022, transitioned the blockchain from a proof-of-work (PoW) system to a proof-of-stake (PoS) mechanism.

As such, in-depth data from IntoTheBlock, which shows the 61.09 million ETH concentrated in only three whale addresses, makes much sense. 

What this means is that these ETH are mostly those locked in the proof-of-stake staking algorithm used by block validators on the Ethereum network. By locking up their Ethereum, ETH miners and large holders have not only reduced the circulating supply but also contribute to price appreciation by reducing the amount of Ethereum available for trading.

 

 

Ethereum Holder Dynamics – Investors And Retailers

The increase in ETH among whale addresses has meant less ETH is available for investors and retail owners. IntoTheBlock classifies investors as addresses holding between 0.1% and 1% of the total circulating supply, while retail are those with less than 0.1% of the total circulating supply. 

ETH is now trading at $3,163. Chart: TradingView

At the time of writing, there are 42 investor addresses and they collectively own 15.2 million ETH, which translates to 10.77% of the total circulating supply. Keeping in mind that the three whale addresses do not do much with price dynamics, investor addresses holding significant but more liquid portions of ETH have a greater capacity to affect market movements. Any substantial selloff from these investor addresses could trigger a sharp decline in Ethereum’s price.

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On the other hand, retailers, which constitute over 99% of ETH addresses, are left with 46% of the total circulating supply. At the time of writing, Ethereum is trading at $3,225 and is down by 2% in the past 24 hours.

Featured image from Pexels, chart from TradingView

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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