The Share of Whales in Ethereum Supply reaches 39%
The Ethereum whale population has grown significantly in recent months, with their share of the total Ethereum supply reaching 39%.
According to data from analytics firm Glassnode, Ethereum whales now hold 39.1% of the total circulating supply of ETH, which is up from 37.1% in March and from 33.2% in February.
The growing concentration of Ethereum wealth in a few large wallets is a sign of increasing institutional interest in the asset. It also indicates that the Ethereum market is becoming increasingly liquid, as large investors are able to move large amounts of ETH without significantly impacting the price.
At the same time, the increasing concentration of Ethereum wealth in whale wallets is a cause for concern. If a single whale were to liquidate its holdings, it could have a significant impact on the price of the asset.
The increased concentration of Ethereum wealth in whale wallets suggests Ethereum is becoming an increasingly attractive option for institutional investors.
