Ethereum whale wallet holdings have reached their highest levels ever, holding an estimated 57% of all Ether in existence, according to onchain analytics platform Santiment. 104 whale wallets holding more than 100,000 Ether each together hold $333 billion. Meanwhile, wallets holding between 10 and 100,000 Ether are at a historic low of 33.46%, and wallets holding less than 100 Ether have a supply ratio of just 9.19%, hitting a near four-year low.
This could be a long-term bullish indication, especially if the whales continue accumulating more. With the caveat that Ethereum’s market cap is increasingly comprised of DeFi and staking wallets, it is generally a bullish long-term signal when a coin’s most prominent key stakeholders continue accumulating, especially when it’s a 9-year-old asset with whales holding their highest-ever portion of coins.
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