Large parties buy en masse Ethereum, while Retail sells

Large Ethereum (ETH) investors have taken billions of Ether for the past month, while many small investors took their profit. Analysts wonder: are the big players better informed, or are they entering at the wrong time?

Almost 27% of all ETH in the hands of Whales

According to Crypto-analyzed company Santiment, Wallets with between 1,000 and 100,000 ETH jointly added 1.49 million ETH to their property. That means an increase of 3.72 percent in their joint holdings, which now end up at 41.61 million ETH. That is almost 27 percent of the current circulating offer.

“Over the past month, these important whale wallets have added more coins, while retail traders took their profit,” Santiment reported on X. The value of the purchased ETH amounts to around 3.79 billion dollars.

Strikingly enough, the course of Ethereum remained relatively flat despite purchases by the big players. The Ethereum race rose by 5 percent over the last 7 days and 5.8 percent in the past month. At $ 2,624, the rate is still almost 46 percent below the record level from 2021.

Spot Ethereum ETFs attract billions

Whales also show interest in the Defi market. For example, the number of large transactions at Ethereum Name Service increased by 313.5 percent in the second week of June. With a large Ethereum lending protocol there was an increase of 203.8 percent. Virtual protocol and USDC transfers on networks such as arbitrum and Optimism also showed strong growth.

Furthermore, the increased interest in Ethereum became visible at Spot Ethereum ETFs. These are investment funds that Ethereum have the underlying value and are traded on the stock exchange. They recorded an inflow streak of 19 days, which was good for $ 1.37 billion according to figures from Farside. That series ended on Friday with a modest outflow of 2.1 million dollars.

In the meantime, the first experiment with an Ethereum-Treasury ended less well at a listed company. Sharplink Gaming plummeted 71 percent after the company reported that they wanted to sell a large number of shares. The proceeds would be largely used to purchase Ethereum. According to chairman Joseph Lubin, the decision was misinterpreted by investors.