ETH whales scoop 934k tokens in 3 weeks while small holders dump supply

Ethereum whales and sharks accumulated 934,240 ETH over three weeks while retail sold 1,041 ETH, fueling a price rebound as volatility cooled, Santiment shows.

Ethereum has experienced a price rebound following accumulation by large holders over the past three weeks, according to on-chain data from analytics firm Santiment.

Large Ethereum holders, classified as whales and sharks, accumulated approximately 934,240 Ethereum during the period, the data showed. Simultaneously, smaller traders sold 1,041 Ethereum into the market, creating divergent trading patterns between the two groups.

Large ETH whale holders moving large amounts

The data indicated a sharp rise in holdings among addresses containing between 100 and 100,000 Ethereum. This cohort’s combined balance climbed steadily into early December, according to Santiment’s chart analysis.

The three-week accumulation period corresponded with a slowdown in Ethereum’s price decline and a reduction in volatility, the data showed. The cryptocurrency subsequently moved higher as buying activity increased.

Retail wallets holding fewer than 10 Ethereum demonstrated the opposite pattern, with holdings declining after 1,041 Ethereum in net selling over the past week, according to the analytics firm.

Such divergences between large and small holders have historically preceded short-term price rallies or trend reversals in cryptocurrency markets, market observers noted.

The current accumulation trend suggests strategic positioning by major holders rather than speculative trading, according to the data analysis. The pattern could support further price recovery if the accumulation pace continues, market analysts said.

Ethereum’s price movement has reflected the supply-demand imbalance created by the contrasting behavior of large and small holders, the data indicated.