Well, if you can believe it, the big boys of the Ethereum world have been gobbling up Ether (ETH) like it’s going out of style, while the little fish have been cashing out faster than you can say “blockchain.” 🐟💰
According to the good folks at Santiment, those Ethereum wallets holding between 1,000 ETH (whales) and 100,000 ETH (sharks) have added a net total of 1.49 million ETH (worth a cool $3.79 billion) over the last 30 days, increasing their collective holdings by 3.72%. They posted this tidbit on X on June 13, and it’s enough to make a man wonder if the little guys ever had a chance. 🤔
“Over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders have taken profit,” Santiment said, as if to say, “Well, what did you expect, folks?”
The group now holds 41.61 million ETH — nearly 27% of the Ether’s current supply, the firm said, citing June 12 data. That’s a lot of digital dough, and it’s making the rest of us feel like we’re swimming in a very small pond. 🌊
Whales are tapping into Ethereum’s DeFi space too
But wait, there’s more! Ethereum Name Service saw the biggest rise in whale transaction activity the second week of July at 313.5%, while Ethereum lending protocol came in next at 203.8%, Santiment said in a separate X post. It’s like the whales are not just buying ETH, but they’re also setting up shop in the DeFi space, making the little guys feel even smaller. 🐳💼
The Ethereum layer 2 Base-powered Virtual Protocol and USDC (USDC) transfers on the Ethereum layer 2s, Arbitrum and Optimism, also saw triple-digit rises. It’s a whale’s world, and we’re just living in it. 🌍
Despite all this whale buying and adoption, Ether is still only up 1.8% and 3.8% over the last 14 and 30 days, CoinGecko data shows. Ether is trading at $2,575, down nearly 48% from its all-time high. So, it’s a bit of a mixed bag, isn’t it? 🤷♂️
Spot ETH ETH inflow record finally snapped
And if you thought the whales were done, think again. Increasing institutional confidence in ETH has also been seen in the spot ETF market, with US-based Ether products going on a 19-day inflow streak before snapping on Friday. The spot ETH ETF recorded net outflows of $2.1 million on the day, ending the longest inflow streak since the products launched in July 2024, according to Farside data.
The 19-day streak saw a combined $1.37 billion flow into the spot Ether ETFs, mostly into the BlackRock-issued iShares Ethereum Trust ETF. It’s like the whales are saying, “We’re not just buying ETH, we’re buying it in every form we can get our hands on.” 🐳💪
First Ethereum treasury stock tanks
Meanwhile, shares in sports betting platform SharpLink Gaming plummeted 73% in after-hours trading last Thursday after filing to register a large volume of shares for potential resale — a move that seemingly didn’t sit well with investors who bought in on the firm’s Ether treasury plan. It’s like the market said, “Thanks, but no thanks.” 🙅♂️
However, Sharplink Gaming chairman Joseph Lubin, who is also CEO of blockchain software firm Consensys, said market watchers misinterpreted the filing. He’s probably thinking, “If you can’t take a joke, you shouldn’t be in the market.” 🤷♂️
Sharplink announced plans to sell up to $1 billion in common shares on May 30, with most of the proceeds intended to purchase ETH. It’s a bold move, but in the world of whales and sharks, you’ve got to swim with the big fish or get eaten. 🐳🦈
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2025-06-16 07:11