Ethereum Whales Increase Control: 43% of Circulating Supply Owned

Ethereum's largest holders, known as whales, have significantly increased their control over the network, now owning 43% of the circulating supply. This trend, noted by the market intelligence firm IntoTheBlock, has intensified since 2023, particularly following the Ethereum Shanghai upgrade, which bolstered confidence in Ethereum's long-term value. As these big investors accumulate more ETH, the disparity between their holdings and retail investors is becoming increasingly apparent, indicating a shift in the distribution of Ethereum. While this accumulation reflects optimism about Ethereum's future, it raises concerns about the concentration of power among a few holders.

• Whales control 43% of Ethereum's circulating supply as of 2023.
• The accumulation trend accelerated with the Ethereum Shanghai upgrade.
• The disparity in holdings between major investors and retail users is growing, highlighting a shift in network dynamics.