Ethereum Retailers Are Selling While Whales Keep Buying: What Does This Mean for ETH Price?

Key Insights

• Ethereum whales and sharks are massively increasing their ETH holdings while retail investors are selling off.
• Large-scale holders have accumulated 1.49 million ETH ($3.79 billion) in the past month and have boosted their collective holdings by 3.72%.
• Retail investors are taking profits due to Ethereum's modest recent gains (1.8% in 14 days, 3.8% in 30 days)
• Ethereum whales are more and more engaging with DeFi platforms in a show of confidence in the network as a whole.
• US-based spot Ethereum ETFs saw a 19-day streak of inflows of up to $1.37 billion.

The market’s indecision continues to mount everyday, with retail interest in most major cryptocurrencies dwindling as of late.

In particular, retail interest in Ethereum has taken a hit. On the other hand, Ethereum whales and sharks are silently accumulating.

According to on-chain data from crypto analytics firm Santiment, these large-scale holders have massively increased their positions in recent weeks.

The difference between retail and whale behaviour on Ethereum could have some big implications for its near-term price action and long-term future.

Here are the details we have so far.

Whale Accumulation in Full Swing

According to a recent report from Santiment, Ethereum wallets holding between 1,000 and 100,000 ETH (also known as whales and sharks) have added a total of 1.49 million ETH over the past month.

This stands as approximately $3.79 billion worth of Ether, and indicates that this class of investors have increased their collective holdings by 3.72%.

These entities now own around 41.61 million ETH, which makes up nearly 27% of the cryptocurrency’s total circulating supply.

In essence, while smaller investors have been locking in profits or exiting amid all of the market uncertainty, larger holders are clearly doubling down.

The growth in whale wallets shows that confidence in the cryptocurrency’s long-term price action is on the rise, even if short-term price action is underwhelming.

Retail Investors Take Profits

As mentioned earlier, while the whales are stacking ETH, retail investors are showing signs of caution.

According to Santiment, there has been a clear pattern of smaller holders selling off or taking profits, especially as Ethereum is starting to struggle with rising in terms of price.

This pattern of behaviour could be linked to anything from macroeconomic concerns, market fatigue or simply profit-taking after minor gains.

According to data from CoinMarketCap, over the last 14 and 30 days, Ethereum has posted gains of only 1.8% and 3.8% respectively.

As of now, the cryptocurrency now trades at around $2,575, which is down almost 48% from its all-time high.

These movements may not be enticing enough for the average retail investor to hold, especially when faster gains are being pumped out on other coins in the crypto space.

Whales And Ethereum DeFi Ecosystem

Interestingly, whale activity isn’t limited to just hoarding ETH. They’re also more and more interacting with Ethereum-based DeFi platforms.

One standout is the Ethereum Name Service (ENS), which saw a staggering 313.5% increase in whale transactions during the second week of June.

Lending protocols on Ethereum followed this trend with a 203.8% rise in activity from these large wallets.

Other Layer-2 projects also saw triple-digit growth in whale activity.

Interestingly, USDC transfers on Arbitrum and Optimism rose as well, and the Virtual Protocol was another big winner.

This behavior shows that Ethereum whales aren't just betting on the token itself.

Instead, they’re actively interested in the ecosystem as a whole. It reinforces the idea that Ethereum is still a huge player in defi, even as newer blockchains attempt to steal its thunder.

ETH ETFs See Record Inflows

Institutional appetite for ETH is also picking up alongside this. For example, U.S.-based spot Ethereum ETFs saw a 19-day streak of continuous inflows before it ended with a relatively modest $2.1 million outflow.

The streak started soon after the ETF products launched in July 2024 and brought in a cumulative $1.37 billion.

Most of these flowed into the BlackRock-managed iShares Ethereum Trust ETF according to data from Farside Investors.

This pattern of inflows shows that confidence is growing among institutional investors who see Ethereum as more than just a volatile crypto asset.

As more regulatory frameworks become clear and established ETF products start to shine, ETH is starting to look more like a long-term investment vehicle rather than a mere speculative gamble.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.