1.49 Million ETH in 30 Days, Here’s What Happened

According to on-chain analytics platform Santiment, Ethereum large holders continue to accumulate even as retail confidence wanes following the recent market dip.

Crypto prices plunged Friday, with major altcoins taking significant hits and liquidations surpassing $1 billion. At one point, Ethereum fell by more than 8%, reaching a low of $2,439. At the time of writing, ETH was barely higher, just up 0.15% in the last 24 hours to $2,532, having marked three straight days of drop since its June 11 high of $2,880.

Despite the shift in sentiment, whale holders continue to accumulate: According to Santiment, over 1.49 million Ethereum have been accumulated by wallets with 1,000 to 100,000 ETH in the past 30 days.

The current count of wallets holding between 1,000 and 100,000 Ethereum is 6,392, according to Santiment data, and over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders took profits. A net of 1.49 million more ETH has been accumulated by this group in the last 30 days, increasing their holdings by 3.72%. This holder class currently controls 26.98% of the entire ETH supply.

Ethereum spot ETFs heat up

Based on on-chain data, Ethereum spot ETFs are heating up. According to Glassnode, Ethereum ETFs saw 154,000 ETH in inflows this week, which is five times the recent weekly average.

For context, the biggest single-day ETH inflow this month was 77,000 ETH on June 11. Meanwhile, BTC ETFs have shown weaker momentum, with total inflows this week at 7,800 BTC, slightly above normal but well below May peaks — the largest daily inflow was up to 7,900 BTC on May 23.