- Ethereum whale wallets rise 4% as large holders return during price rally.
- Bitcoin whale wallets drop 1.8% amid price dip and increased market volatility.
- ETH whale accumulation aligns with ETF inflows and sustained bullish momentum.
A telling divergence is appearing between the market’s largest players, as Ethereum is seeing an increase in large wallet activity while Bitcoin experiences a decline in whale participation.
Over the past week, the number of Ethereum whale wallets holding more than 10,000 ETH rose by 45, a 4% increase. During that same time, Bitcoin wallets holding 1,000 BTC or more dropped by 39, a 1.8% decrease.
Related: Bitcoin and Ethereum Whales Take Profits, Signaling Potential Dip
Data from Santiment shows that Ethereum’s rise in its whale wallet count has coincided with a strong price rally. Since late June, ETH climbed from below $2,100 to a high above $3,600. As of July 22, Ethereum was trading at $3,681.
Bitcoin, in contrast, showed a drop in its whale wallet numbers during the same period, coinciding with a 3% price decline for the asset. At press time, Bitcoin was trading at $117,678.69, reflecting a 1.39% drop in 24 hours despite a 12.6% increase in trading volume, an indication of higher volatility and possible profit-taking.
A closer look at the whale accumulation patterns
The recent decline in Bitcoin whale wallets follows a period of heavy accumulation between February and early April. That momentum has now slowed, aligning with Bitcoin’s recent price consolidation.
Related: Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree
Ethereum whales have moved in a different direction. After reducing their positions from February to April, large holders began a new phase of accumulation in late May which has continued into June and July. As their holdings grew, Ethereum’s price began a consistent recovery, supported by ETF inflows and positive market sentiment.
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