Ethereum Whales Double Holdings To 43% Post-Merge – Details
In the past week, the crypto market experienced a general uplift as Bitcoin surged above $100,000 for the first time since early December. According to data from CoinMarketCap, Ethereum gained by 7.25% spurring a return to the $3,500 price zone. Interestingly, more market developments are pointing to a long-term bullish future for the altcoin. Ethereum Merge Sparks Mega Increase In Whale Holdings In a recent X post by crypto analytics firm IntoTheBlock, the Ethereum network has recorded a massive rise in whales’ reserves over the past two years. Generally, whales are wallet addresses that hold a substantial amount of a token, typically over 10,000 ETH for the Ethereum network. Whales are important due to their large holdings which could allow them to influence market trends. According to IntoTheBlock, the Ethereum whales‘ balance has surged from 22% of the coin’s supply in early 2023 to a current value of 43%, indicating about a 100% gain in 24 months. Source: InToTheBlock on XSo far, the blockchain analytics firm has linked this accumulation spree to the Ethereum Merge that occurred in September 2022. For context, the Merge, considered a historic event, allowed the Ethereum mainnet to integrate with the Beacon Chain transforming it into a fully functional proof-of-stake blockchain. The Merge offers many benefits in terms of potential for sharding to ease network traffic, environmental friendliness, and importantly staking, as it allowed long-term Ethereum investors to finally withdraw their staked rewards. IntoTheBlock postulated that in particular, whales found this upgraded staking feature attractive resulting in the accumulation surge since 2023. In backing this notion, data from beaconcha.in shows that staked ETH has grown from 15,804,310 ETH in January 2023 to 33,898,981 ETH in January 2025 indicating a 114.49% gain in the same period during which a surge in whale accumulation has occurred. In terms of their ability to influence market trends, whale transactions are viewed as trading signals by smaller, retail investors. Thus, a strong accumulation pattern by ETH whales, as currently reported, is a robust bullish signal supporting the altcoin’s long-term profitability. ETH Price Overview At the time of writing, Ethereum trades at $3,460 reflecting a 2.65% gain in the past 24 hours. However, the coin’s trading volume is down by 3.33% and valued at $26.11 billion. According to its daily trading chart, Ethereum is currently headed for a major price resistance at $3,700. If it surpasses this, it may rise further to around $4,000. With a market cap of $422.34 billion, Ethereum remains the second-largest cryptocurrency and altcoin in the world. ETH trading at $3,464 on the daily chart | Source: ETHUSDT chart on Tradingview.comFeatured image from PYMNTS, chart from Tradingview Semilore Faleti Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. 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In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. 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