Recent data shows a significant increase in Ethereum whale activity, raising questions about centralization and future market trends. Let's look at the latest movements of large wallets and their impact on the cryptocurrency market.
Recent Whale Activity in Ethereum
In the last 24 hours, major Ethereum players have moved over $174 million back to wallets not associated with major exchanges. According to Lookonchain, three major wallets have withdrawn 85,668 ETH, amounting to $174.5 million, from exchanges since February.
Rising Centralization Among ETH Holders
The percentage of ETH controlled by whales has risen to 46%, the highest level seen since 2015. This change dramatically shifts the ownership structure of Ethereum, with large investors starting to dominate over retail holders.
Approaching Historical Price Levels
Ethereum is nearing its realized price level. Technical analysts are tracking indicators that could signal a potential reversal or further price decline. Analyst Abramchart noted that ETH is at the lower boundaries of its macro range.
The continued increase in whale activity in Ethereum raises questions about market centralization and stability. Observers caution about potential consequences if major holders begin to actively sell their assets.
