Since the beginning of last spring, the largest Ethereum holders that control between 10,000 and 10 million ETH have sold more than 9.43 million coins. This has caused the volume of cryptocurrency in whale wallets to decrease to 51.4% of its total supply.
Notably, this surge in whale activity was observed last summer, prior to the Merge fork activation in September. This was likely due to investors taking advantage of the increasing value of ETH before the software update.
On the other hand, average investors, or “sharks” (those who possess 10-10,000 ETH), have been buying altcoins over the past 12 months. This has resulted in these entities accumulating almost 29% of the total ETH supply.
