Recent on-chain data reveals a significant divergence between Ethereum and Bitcoin whale activity. Ethereum holders controlling large amounts of ETH have increased their accumulation, suggesting growing confidence. Conversely, Bitcoin is showing signs of reduced whale interest, indicative of potential market maturation.
Over a two-week period, the number of Ethereum wallets holding 10,000 ETH or more increased by approximately 8%. This surge saw the creation of 90 new major wallets, pointing to heightened accumulation efforts by large-scale or institutional investors. Ethereum is currently trading near $2,972 within a bullish technical pattern known as an ascending channel.
In contrast, Bitcoin’s whale activity exhibited a decline. The count of wallets holding 1,000 BTC or more decreased by 1.61%, with 34 such addresses dissolving. This reduction often signals profit-taking behavior or a rebalancing of portfolios among major stakeholders.
Technically, Ethereum displays robust momentum. Its Relative Strength Index (RSI) shows a strong upward trajectory, reflecting significant technical strength. This contrasts with the observed Bitcoin trends. Ethereum’s long-term growth potential is increasingly attributed to its expanding role within decentralized finance (DeFi) ecosystems and burgeoning real-world blockchain applications, concepts drawing substantial institutional interest.