the list is extensive staking Infrastructure, token wrapping contract, 5 exchange wallets, 2 layer 2 ( L2) bridge, and one address unlabeled in Etherscan but identified through Arkham Intelligence. together, indicate where you are focused $ETH exist throughout the network, explaining why the top two are not “holders” in the traditional sense.
Beacon Contract tops the list, but it’s not a whale
As of this weekend, Ethereum Beacon deposit contracts hold 88,289,814 $ETHcorresponding to 73.16% of the top 12 wallets combined. This Agreement does not belong to any person, foundation, or company. all validators staking $ETH To secure your network through Proof of Stake (PoS), send funds through this single address. This acts as a protocol-level escrow rather than a discretionary holding.
Oddly enough, the Beacon Deposit Agreement includes $109,690 worth of ERC-20 token PIKA revealed that 7.112 trillion coins were compromised at the address. worth approximately $8,500 USDT The reasons remain unclear, but along with a host of other things that make little sense, ERC-20 token.
Wrapped Ether contracts are ranked second with 2,443,063. $ETH2.02% of the total. It works the same way. $ETH Because it is locked as collateral, ERC-20 token called WETH decentralized exchange ( dex) platform and financing platform. Neither Beacon Contract nor Wrapped Ether represents an entity that controls how funds move. Wrapped Ether (WETH) is simply ERC-20 etheric expression.
Binance secures 3rd place on the list
Binance manages more individual addresses than any other exchange. A wallet called “Binance 7” ranks third with 1,996,008. $ETH The number of transactions was approximately 2,481, a pattern consistent with wallets used for large, infrequent transfers rather than daily retail flows.
Another address labeled “Binance Hot Wallet 20” has 739,595 stored $ETH 20,981 transactions support active withdrawals liquidity. The third address, known as “Binance-Peg Tokens,” holds 454,999. $ETHa collateral-backed version of $ETH What Binance is issuing on other chains BNB chain.
A total of 3,190,602 is stored in 3 wallets on Binance $ETHworth about $5.9 billion at $1,860 per coin. This makes Binance the single largest exchange holder among the top 12 wallets by a wide margin.
Robinhood, Upbit, Bitfinex, Gemini complete exchange custody
Owned by Robinhood $ETH Spread across two separate wallets. Primary operational address ranks 4th with 1,220,494. $ETH. The second wallet, unlabeled on Etherscan but identified by Arkham as a Robinhood cold storage, ranks 12th with 368,050 pieces. $ETH. The two addresses add up to 1,588,545. $ETHworth approximately $2.9 billion.
Upbit, the largest exchange in Korea volumeholds 1,046,015 pieces $ETH Inside the wallet tagged “Upbit 41”. This address recorded 54,671 transactions, the highest number of transactions among the top 12 exchange wallets, indicating high retail deposit and withdrawal activity from its user base.
Bitfinex holds 450,118 $ETH It is located at an address known as “Bitfinex 19”. It is worth noting that the aforementioned exchanges listed among the largest holders of Ethereum are also in the ranking. Bitcoinlargest holder of. Gemini holds 11th place with 385,262 $ETH Only 945 transactions were recorded in cold wallets. This is a low number typical of offline storage that is not moved frequently for security reasons.
L2 Bridge Locks Over 1.6 Million $ETH
Currently, two Ethereum scaling networks are also in the top 12. Arbitrum Bridge holds 819,716 Ether; $ETH It will be distributed on the Arbitrum network. Base Portal operated for users cultivated by Coinbase L2 network, housing 807,076 $ETH 1,140,867 transactions were recorded, making it the second highest number of transactions in the entire list after the WETH contract.
The size of these bridge balances tracks increased activity on both networks as traders and applications continue to move funds away from Ethereum’s base layer in search of lower fees and faster settlements.
What Focus Means for Traders
Excluding Beacon Contract and Wrapped Ether as network infrastructure, the remaining 10 wallets hold 8,287,337.60. $ETH Combined. Of this, exchange-managed wallets alone account for 6,660,544. $ETHor approximately 5.52% of 120,682,850 $ETH Reference power supply.
For traders who track exchange reserves as a signal of selling or accumulation pressure, the data shows that custody is spread across multiple addresses rather than being concentrated in one per exchange. Because Binance and Robinhood both operate separate hot and cold wallets, analysts need visibility into all tagged addresses on the exchange, not just the most active addresses, in order to draw accurate conclusions about reserve trends.
Bridge wallets add another signal. The rise in Arbitrum and Base balances indicates continued L2 activity, and this trend is shaping transaction volumes and gas costs across the Ethereum ecosystem.
