'Didn't sell even in a bear market'...Ethereum whales achieve 10-week high in ETH holdings

▲ Ethereum (ETH)/AI Generated Image

Although Ethereum (ETH) has fallen below $2,000, mega-whales have actually increased their holdings to a 10-week high.

According to crypto media outlet NewsBTC on May 30 (local time), on-chain analytics firm Santiment stated that Ethereum investors holding more than 100,000 ETH have recently increased their holdings. Based on current exchange rates, 100,000 ETH is worth approximately $200 million, classifying this group as mega-funds even among large whales.

According to Santiment data, addresses holding more than 100,000 ETH have continued net buying since early May. Even as the Ethereum market turned bearish in the latter half of this month, the accumulation trend of this group persisted. This means that mega-holders absorbed supply during the price decline.

The total holdings of this whale group increased to 17.41 million ETH, which is the highest level in approximately 9 weeks. The proportion of holdings relative to the total supply rose to 22.03%, marking a 10-week high.

NewsBTC reported that the recent accumulation by mega-whales could be a positive signal for Ethereum. However, the holdings of this group have generally been on a declining trend since Q4 2025. It remains to be seen whether the recent rebound will be sustained enough to reverse the previous decline.

The trend of large Bitcoin (BTC) holders showed a different pattern from Ethereum. CryptoQuant analyzed that Bitcoin whales increased their supply in January and February, but the 30-day supply change rate has since fallen to a neutral level. Smaller "dolphin" groups also appeared to have slowed their accumulation pace.

Ethereum recently fell more than 6% over the past week, dropping below $2,000 for the first time since late March. While the price has been under bearish pressure, the increased holdings by mega-whales indicate that long-term holding funds are moving within the market again.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*