Ethereum is becoming increasingly concentrated in the hands of a few large holders, including wealthy individuals (‘whales’) and institutions, who are actively buying up the cryptocurrency. Recent data shows that these large players now control nearly 25% of all Ethereum in circulation. This accumulation has continued even with recent price drops and instability in the market.
Over 22% Of Ethereum Supply Now Controlled By Whales
Santiment, a company that analyzes blockchain data, recently shared information on X about how Ethereum is distributed and where the largest investors, known as whales, are holding their tokens. Their data shows that wallets holding 100,000 or more ETH now control a total of 17.4 million tokens, suggesting these major investors are actively buying and accumulating Ethereum again.
According to Santiment, large Ethereum holders (often called whales) are accumulating ETH at the fastest rate in nine weeks. This suggests that major investors and institutions are actively buying even as prices fall. These whales now hold a combined value of around $35 billion in Ethereum.

Ethereum whales – large investors holding significant amounts of the cryptocurrency – now control 22.03% of the total supply, the highest concentration in over ten weeks. This indicates that a small number of big players are increasingly dominating Ethereum holdings, while typical, smaller investors hold a comparatively smaller portion.
Since 2025, large Ethereum investors (often called ‘whales’) have been actively buying more of the cryptocurrency when prices dropped, hoping to profit from market fluctuations. But around 2026, these same investors started selling off their holdings. More recently, though, that selling trend seems to have reversed.
Large Ethereum investors, often called whales, are not only directly buying ETH, but exchange holdings of the cryptocurrency have also been steadily decreasing throughout the first half of 2026, according to CryptoQuant. This ongoing trend suggests whales are purchasing ETH and storing it in secure, long-term storage, which is reducing the amount of ETH available on the market.
ETH Buy Orders Surge As Whales Go Long
Ethereum is seeing increasing demand, with data showing large investors are confidently buying more. Analyst CW noted on X that these major holders haven’t been selling, and their purchases are currently offsetting sales from smaller, individual investors.

Ethereum is seeing increased activity from large investors, often called ‘whales,’ who seem optimistic about its future price. Crypto Rover recently reported that one such investor opened a $25.6 million position betting on Ethereum’s price increasing, using a high 25x leverage. While this shows significant confidence, it’s also a very risky move – a price drop of only $20 could result in the loss of the entire investment.

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2026-06-01 20:12