Ethereum Sharks Accumulate 4.4M ETH During Whale Sell-Off
Ethereum has seen renewed bullish momentum as large holders (“sharks”) accumulated 4.4 million ETH over five months, offsetting a retreat by whales. Despite ETH’s price pullback from its near all-time high to $4,225, on-chain data indicates resilience. Total staked Ethereum reached 36 million ETH, reflecting increased long-term commitment. Meanwhile, ETH reserves on exchanges rose to 18.4 million, signaling potential selling pressure, though spot trading volumes and average order sizes remain steady. A surge in active addresses also supports a bullish outlook, historically correlating with price rallies. CryptoQuant and Alphractal metrics suggest the market balance favors bulls in the near term. Traders should monitor whale and shark flows, staking rates, and exchange reserves as key indicators for Ethereum’s next price move.
Bullish
The accumulation of 4.4 million ETH by mid-sized “shark” holders while whales reduce supply typically precedes bullish breakouts. Historically, similar patterns in Bitcoin saw prices rebound after whales distributed and sharks or institutions bought the dip. Rising staking levels (36M ETH) further lock up supply, reducing sell-side pressure and indicating bullish market sentiment. Although increased exchange reserves (18.4M ETH) may suggest potential selling, stable average order sizes imply no imminent large-scale liquidation. The surge in active addresses also parallels previous pre-rally phases, signalling growing network use and demand. In the short term, these on-chain shifts could support price consolidation around $4,200–$4,500, while a sustained influx into staking and continued shark buying may trigger a breakout above $4,500 in the medium term. Overall, the data points to a bullish outlook for Ethereum.