Ethereum Whales Boost Holdings with 130,000 ETH as Market Dynamics Shift

• Thirteen new ETH mega holders now hold over 130,000 ETH, noting great accumulation activity.
• ETH’s price fell from $3,600 to $3,152.72, with a 1.40% drop in the last 24 hours.
• The market cap reads at  $379.94 billion, with a 32.49% drop in trading volume.

In the past 24 hours, 13 new whales have joined the ETH network. Each of the new players holds over 10,000 ETH, indicating a notable collection of the asset. The increase in Ethereum holders highlights a shift in its activity and increasing interest among investors.

Accumulation by Ethereum Mega Whales

According to an observation posted on X  Space by Ali Charts, the number of addresses holding over 10,000 ETH showed varied movements, declining in mid-January before recovering. Ethereum’s price similarly experiences volatility, dropping from $3,600 to $3,200. 

Adding 13 mega whales within a short period reflects a rise in Ethereum accumulation. The combined holdings of these new addresses exceed 130,000 ETH, demonstrating strong buying activity.

The emergence of such large-scale holders indicates an influx of capital into the Ethereum ecosystem. The rise in whale accumulation suggests a concentration of ETH in fewer hands. This accumulation level could impact liquidity, as large holders tend to reduce circulating supply.

Network Activity and Market Reactions

The arrival of new mega whales aligns with recent market movements. Whale accumulations often coincide with price fluctuations and potential shifts in Ethereum’s valuation. Large holdings can influence market trends, as whales may control significant portions of supply and impact trading dynamics.

Tracking the current market activity during the press, CoinMarketCap data indicates that the Ethereum price is $3,152.72, experiencing a 1.40% decline in the last 24 hours. The market cap is $379.94 billion, with a trading volume of $20.03 billion, reflecting a 32.49% decrease.

The 24-hour volume-to-market-cap ratio is 5.27%. The total supply and circulating supply of Ethereum remain at 120.51 million ETH. The chart shows a downward trend during the day, followed by a slight recovery. The price fluctuated between $3,125 and $3,156, indicating volatility.