CandleFocus

Ethereum Whale Dominance Hits Record High: What Comes Next?

The dominance of Ethereum whales, or large holders of ETH, is currently at its highest level in history. These whales hold 57.35% of Ethereum's total supply, while mid-sized investors hold just 33.46% and small investors hold only 9.19%. This trend of whale accumulation has been building since late 2022, indicating their long-term optimism. In the past, whale accumulation has preceded both a bull run and a sharp price correction. The current price of ETH is $4,015, and technical indicators show cautious optimism. While the bullish scenario suggests ETH could reach $4,500 - $5,000, the concentration of supply held by whales also poses a risk to the market. A coordinated sell-off by these whales could result in a sudden drop in price. Overall, this highlights the significant influence of large players in the cryptocurrency market.

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