Large holders of Ethereum, known as Ethereum whales, have been accumulating more ETH, with data showing they now hold approximately 43% of the total circulating supply. This concentration raises questions about its implications for the price and market dynamics of Ethereum. The increase in whale holdings is attributed to the Ethereum merge and the appeal of ETH staking. These ETH are mainly locked in the proof-of-stake staking algorithm, reducing the circulating supply and potentially contributing to price appreciation. Investor addresses holding significant portions of ETH have the potential to affect market movements, while retailers hold a smaller portion of the total circulating supply. Ethereum is currently trading at $3,225.



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