Whales holding over 100K ETH now control over 22% of total supply

Whale wallets holding at least 100,000 Ethereum (ETH) now possess 22.03% of the total ETH supply, CryptoPotato reported, citing data from Santiment. The outlet noted that ETH whales appear to have shifted back to accumulation, with wallets in this category holding a total of 17.41 million ETH, a nine-week high. While retail investor sentiment has soured as the price of ETH fell below $2,000, whales seem to be using the dip as a buying opportunity. However, the report added that a cautious approach is still necessary, as technical bearish signals for ETH have not fully subsided.