Major Ethereum investors are accumulating record amounts of the cryptocurrency. Blockchain data shows addresses holding 10,000 to 100,000 ETH now control over 21 million ETH, reaching their highest historical level.
The largest whales, those holding more than 100,000 ETH, increased their holdings to approximately 4.3 million ETH. This movement coincides with declining Ethereum reserves on Binance, which decreased to 3.764 million ETH this November.
The outflow of ETH from exchanges to cold wallets or staking contracts reduces the available supply for selling. This accumulation by large holders typically precedes sustained upward movements in Ethereum’s price, which currently trades around $2,956.
Source: Ethereum blockchain data
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