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Ethereum Sharks Drive Price Surge as Whale Holdings Decline

Ethereum Sharks Drive Price Surge as Whale Holdings Decline

TheCryptoUpdatesTheCryptoUpdates2025/08/20 11:26
By:JackKesarwaniKesarwaniJackJackJackJackJackShivi VermaMridul Srivastava

So, Ethereum’s price has been climbing lately, which is good news for a lot of folks. But there’s something else happening under the surface that’s a bit curious. According to analyst Joao Wedson, who’s been sifting through the latest on-chain data, the number of Ethereum whales is actually going down.

It seems a little counterintuitive, right? The value goes up, but the biggest players are holding less. Both the total amount they own and their slice of the overall supply are getting smaller each day. My first thought was that this might be a warning sign, a signal that the big money is quietly getting out.

Why This Might Not Be a Bad Thing

But Wedson suggests we shouldn’t jump to that conclusion. He points out that this isn’t a new story. We saw a similar pattern play out with Bitcoin in the past. The real action, he argues, might not be with the whales at all. Perhaps the real price movements are driven by a different group entirely.

He calls them the ‘sharks.’ These aren’t the colossal whales, but the mid-tier investors. The ones who are still moving serious amounts of capital, just not the very largest sums.

The Rise of the Ethereum ‘Sharks’

In practical terms, Wedson is talking about wallets holding between 10,000 and 100,000 ETH. That’s a pretty significant chunk of change by any measure. And the data shows these addresses haven’t been sitting on their hands.

Apparently, they’ve been buying, and doing it pretty aggressively. Since back in April, this group of investors has added a staggering 4.4 million ETH to their collective holdings. That’s not a small number. It suggests a strong, sustained belief in Ethereum’s value from a powerful segment of the market.

It makes you think about where the real confidence lies. The whales, well, a lot of those massive wallets are tied up in exchanges or belong to long-term holders who just aren’t active. Some might even be in wallets where the keys are lost for good. They’re not really part of the day-to-day market churn.

The Real Market Drivers

The sharks, on the other hand, are actively making decisions. Their consistent accumulation seems to be a much stronger force for price dynamics than the slow, sometimes stagnant, movement of the very largest holders. It’s the difference between a parked car and one that’s constantly navigating traffic.

So, while the decline in whale concentration looks odd at first glance, the story it tells might be more about a shift in influence than a loss of faith. The market’s momentum appears to be coming from a different, perhaps more agile, depth of the ocean. It’s a nuanced picture, for sure.

Ethereum Sharks Drive Price Surge as Whale Holdings Decline image 0

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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