The largest non-exchange holders of Ethereum are Back to accumulation. On-chain analytics platform Santiment reported that wallets holding between 100 and 10,000 ETH, also known as whales and sharks, began rebuilding their positions after nearly 1.36 million ETH were offloaded between October 5 and 16.
Notably, a graph of Ethereum’s collective holdings shows that approximately one-sixth of those coins have already been redeemed, with Some confidence is starting to return To the second largest crypto asset.
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Whales reverse course after surrendering in early October
The first half of October was highlighted by one of Ethereum’s most pronounced capitulation periods this year. Macroeconomic concerns due to US tariffs have sent the price of Bitcoin higher Undergo a flash crash Which pulled many altcoins to the downside. During this movement, the price of Ethereum rose It also fell very quicklyfalling from highs of $4,740 on October 7 to $3,680 on October 11.
Interestingly, Data appears on the chain Selling pressure from large coin holders amplified this move, with a chart from Santiment showing a sharp decline in their cumulative holdings from approximately 24.5 million ETH to approximately 22.6 million ETH. This drop of 1.9 million ETH reflects clear risk-off behavior among whales and sharks, who have been net buyers since August.
However, once the selling momentum started to fade, the buildup started to return. Institutional flows are starting to return to Spot Ethereum ETFs and whale and shark trades I started accumulating Ethereum. Since October 16, the same group that contributed to the filter has begun adding more to its sites. Santiment noted that these bearers are finally showing some signs of confidence, indicating an extended recovery phase coming after the tremor.
218,470 ETH added in the last 7 days
According to Santiment data, collective holdings of addresses holding 100 to 10,000 ETH have rebounded to approximately 23.05 million ETH after bottoming out in mid-October. The highlighted annotation on the chart shows that 218,470 Ethereum were accumulated in just the past week, indicating a tangible shift in on-chain behavior.
Mass holdings of Ethereum wallets containing 100-10,000 ETH. Source: Santiment
This increase represents approximately one-sixth of the coins previously dumped, and is a sign that large investors are gradually returning to the market after what appeared to be a phase of exhaustion. Similar accumulation trends have often preceded a broader recovery in the Ethereum price, especially when accompanied by stabilization in the ETH/BTC trading pair.
Currently, the Ethereum price seems to be building a more stable base for its next phase Recovery heading into November. When whale portfolios accumulate, it reduces the circulating supply available on exchanges and reduces selling pressure.
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At the time of writing, Ethereum is trading at $3,940 and On track to break and close Above $4000 again. Both Ethereum and Bitcoin have risen slightly in recent days After the inflation report showed US inflation fell to 3% in September, below the 3.1% that economists had expected.
Featured image from Unsplash, chart from TradingView
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