According to CryptoPotato, according to the latest data from on-chain analysis provider Santiment, Ethereum is becoming increasingly concentrated in the hands of big players. Santiment reported on October 18 that billionaire Ethereum investors with more than 1 million ETH held 32.2% of the available supply for the first time since 2016. In addition, Ethereum transactions exceeding $1 million reached the second peak in a month. However, Santiment did not clarify whether these data include entities such as centralized exchanges or stablecoin issuers that hold a large amount of ETH. According to Glassnode data, Ethereum big players holding more than 1,000 ETH have been gradually reducing their holdings since 2020, resulting in about $20 million in ETH being sold. However, according to data shared by CoinMarketCap, Bitcoin big players holding more than 1,000 BTC have mainly maintained their holdings. Despite the start of withdrawals in April, the narrative of Ethereum staking has never been so strong, with more assets pledged than ever before. According to Beaconcha.in, a record 27.6 million ETH is currently staked, worth approximately $43.4 billion, or 23% of the total supply. Moreover, the supply has decreased by 260,640 ETH or $409 million since the merger last September. Despite this, Ethereum prices remain weak. At press time, ETH is down 1.3% on the day and is trading at $1,568. The asset has fallen 4.5% over the past two weeks and continues to fall along with other altcoins. Ethereum is now down 68% from its all-time high, while Bitcoin has performed better this week, down 59% from its all-time high.