Ethereum whales have accumulated 57.35% of the circulating ETH supply, reaching an all-time high, which is considered a long-term bullish signal.
According to data from blockchain analytics firm Santiment, the number of whale wallets holding at least 100,000 Ethereum has now reached 104.
The total assets of these wallets correspond to 57.35% of the entire circulating Ethereum supply, which has a market value of approximately $333.1 billion.
However, the share of wallets holding assets between 100 and 100,000 ETH in the total supply fell to 33.46%, the lowest level in history. Wallets with assets under 100 ETH reached the lowest rate in almost the last 4 years at 9.19%.
Although Ethereum ranks second in market value and is increasingly dominated by DeFi and staking wallets, the continued increase in Ethereum holdings by key stakeholders has generally been interpreted as a positive signal in the long term.
It was a remarkable development that whales were accumulating at an all-time high, especially in Ethereum, a 9-year-old asset.
According to CoinGecko data, Ethereum, which has increased by 2% in the last 24 hours, is traded at $4,024 at the time of writing.
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