Ethereum (ETH) concentration among large wallet holders is increasing as whales and institutional investors continue to purchase the second-largest cryptocurrency at an aggressive pace. The latest on-chain data also reveals significant changes in the asset supply distribution. Currently, almost a quarter of Ethereum supply is currently controlled by these large companiessuggesting that accumulation by whales continues despite recent price declines and market volatility.
Over 22% of Ethereum supply is now controlled by whales
May 28th, on-chain analytics platform Santiment Posted latest data Ethereum supply distribution According to the report, whale wallets holding at least 100,000 ETH currently hold a staggering 17.4 million total tokens. New accumulation trend Among major investors.
Santiment noted that this represents the highest amount of ETH held by this group of whales in the past nine weeks and suggests that large players and institutions hold the largest amount of ETH. We are actively increasing our purchasing activities. As prices continue to fall. Notably, the total value of each ETH whale wallet has skyrocketed to approximately $35 billion based on recent market prices.
Additionally, the share of Ethereum held by these whales reached a whopping 22.03%, marking the highest supply distribution not seen in the last 10 weeks. This data highlights the increasing dominance of a small group of large holders. Circulating supply of EthereumThis is in contrast to the small holdings of individual investors.
Interestingly, Ethereum whale activity is Increasing trend from 2025investors take advantage of falling prices and market fluctuations to strengthen their positions. However, sometime in 2026, Ethereum experienced a major distribution phase. Whales have started selling off their cryptocurrencies. However, recent reports suggest that this trend has since changed.
Not only are whales directly accumulating Ethereum, but according to CryptoQuant; Foreign exchange reserves continue to decline This consistent outflow has significantly contributed to the decline in the circulating supply of ETH, suggesting that whales are purchasing ETH and moving it to cold wallets for long-term holding.
ETH purchase orders increase rapidly as whales prolong
the current, Ethereum buy orders are still increasingBecause on-chain data shows strong trust and renewed interest from large holders. Crypto Analyst CW share This latest development on X points out that there have been virtually no sell orders from whales in recent days. He also said that buy orders are being absorbed effectively. sales volume Opinions from individual investors in the ETH market.
As this unfolds, Whales appear to be long on EthereumI’m betting that number may increase soon. Recent market report by Crypto Rover show A large holder opened a staggering $25.6 million long ETH position with 25x leverage. Crypto Rover described this as an “insane gamble”, emphasizing both the great confidence and the extreme risks involved. The analyst noted that if the price of Ethereum were to fall by just $20, the whales’ entire position could be wiped out.
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