Ethereum whales' dominance reaches new heights: What will happen next?

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The dominance of Ethereum whales is at its peak, making it hard to ignore what this means for the future. So far, this ratio has reached an all-time high. While small investors hold less ETH than ever before, whales have been quietly accumulating more ETH. Is this another sign of a bull market, or something entirely different?

As of now, there are 104 wallets holding over 100,000 ETH. This accounts for 57.35% of the total supply of Ethereum, marking a historical high. Despite the increasing strength of these large wallets, medium investors (those holding between 100 and 100,000 ETH) now only control 33.46%, which is the lowest share on record.

The situation is not optimistic for small investors either. Wallets holding less than 100 ETH account for only 9.19% of the supply. This is the smallest share since January 2021. This trend has been strengthening since the end of 2022 when large investors began hoarding ETH in large quantities. Clearly, the whales know something; they are in a long game, signaling the rise of Ethereum whale dominance.

So, what does all this mean for ordinary investors? It depends on the situation. From a bullish perspective, the whales seem confident. They are buying Ethereum, especially during downturns, which usually signals long-term optimism. If this trend continues, ETH could rise to the range of $4,500 to $5,000.

But there are also risks. When a few wallets hold such a large portion of the supply, the market can become fragile. A coordinated sell-off by these whales could lead to a sudden price drop. This is something to watch closely as the ETH story unfolds.

Regardless, the dominance of Ethereum whales clearly reminds us: the big players still hold the most power in this market.

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