My dears, the latest on-chain data has revealed that our beloved Ethereum whales have been indulging in a rather significant shopping spree. 🛍️ It seems the ETH price is about to get a delightful boost, or so the whispers go.
Ethereum Whales Have Added To Their Holdings
According to the ever-so-insightful Ali Martinez, who recently graced us with a post on X, the supply of these aquatic giants has seen a notable uptick. The metric to watch here, courtesy of the esteemed Santiment, is the “Supply Distribution.” This charming little chart tells us just how much of the precious asset these wallet groups are hoarding at any given moment.
Now, let’s break it down, shall we? The Ethereum community is divided into various cohorts based on their holdings. For instance, the 1 to 10 ETH cohort is where the small fry reside. But our focus today, my darlings, is on the whales. These majestic creatures are defined as those holding between 10,000 to 100,000 ETH. At today’s exchange rate, that’s a cool $26.2 million to $262 million. Quite the fortune, wouldn’t you say?
These big-money holders, with their considerable influence, are worth keeping an eye on. Their behavior, as reflected in the Supply Distribution trend, can be quite telling. Here’s the chart Martinez shared, which shows the trend in the Supply Distribution of the Ethereum whales over the past couple of weeks:
As you can see, the Supply Distribution for the 10,000 to 100,000 ETH cohort has seen a delightful rise, indicating that these whales have been busy accumulating. In total, they’ve added a whopping 200,000 ETH (worth around $524 million) to their already impressive collections. A significant amount, indeed, and one that suggests these savvy investors believe the current price is a steal. 🤑
However, only time will tell if this bet will pay off. But one thing’s for sure, these whales are not ones to shy away from a good gamble. 🎲
On a related note, Glassnode has pointed out a strong accumulation zone for Ethereum around the $2,500 level. Here’s the chart to illustrate:
The Ethereum Cost Basis Distribution Heatmap, a rather fascinating indicator, shows that the $2,500 level is one of the strongest accumulation zones in months. Over 3.45 million ETH has a cost basis in the $2,513–$2,536 range, making this level a major support zone. 📊
ETH Price
At the time of writing, Ethereum is trading around $2,600, up a modest 3% in the last 24 hours. A slight uptick, but one that could be the beginning of something grand. 🌟
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2025-07-09 13:43