"Ethereum whale buying increases…holdings up 14% in 5 months"

JOON HYOUNG LEE

Summary

"Santiment said that Ethereum (ETH) whales' holdings increased by 14% in the past five months."
"Ethereum's price has roughly tripled in five months, and inflows of institutional funds are cited as a major cause."
"Cointelegraph reported that public companies that adopted an Ethereum treasury strategy hold $15.83 billion of Ethereum, equivalent to about 2.97% of the total supply."

Whales (large investors)' holdings of Ethereum (ETH) have increased by 14% over the past five months.

On-chain analytics firm Santiment said on the 4th (local time) via its official X account that "(the recent Ethereum rally) is the result of accumulation by whales holding between 100 and 100,000 ETH," adding that "these whales have increased their Ethereum holdings by 14% over the past five months."

Earlier, Ethereum traded in the $1,400 range in April, marking an annual low. On the day, Ethereum was trading on CoinMarketCap in the $4,370 range, up about 1.4% from the previous day. In just five months, the price has nearly tripled.

*Whales (large investors) Ethereum (ETH) holdings trend. Photo credit = Santiment*

Inflows of institutional funds are cited as a main driver of Ethereum's price rise. Public companies that have adopted Ethereum treasury strategies, such as Bitmine and Shaplink Gaming, began actively buying Ethereum starting in June. Cointelegraph reported that "companies that adopted Ethereum treasury strategies currently hold $15.83 billion (about 22 trillion won) worth of Ethereum," adding, "this represents about 2.97% of the total supply."

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