Large-scale Ethereum investors, commonly known as whales, have significantly increased their holdings by accumulating approximately 1.49 million ETH over the past month. This accumulation spree has elevated whale control to nearly 27% of Ethereum’s circulating supply, signaling a notable shift in market dynamics.
Retail participation has simultaneously weakened, with network activity showing a 26% decline in new address creation and a 55% drop in active addresses during the previous week. This divergence between institutional and retail behavior coincides with ownership redistribution, as retail holders reduced their collective share by almost 1% over the same period.
Market momentum faces challenges near the $2,550 to $2,650 resistance zone, a critical technical barrier that could determine Ethereum’s near-term price trajectory. Despite this uncertainty, derivatives markets reflect cautious optimism, with funding rates maintaining a slightly positive level of +0.0045%, indicating measured positioning among futures traders.