📰 Ethereum is calm on the surface, but under the hood it’s quite busy: last week, addresses holding between 100 and 10,000 ETH sold about 307,000 ETH, while whale addresses bought about 82,000 ETH in the same period. Retail and big capital clearly aren’t working on the same question.
🔥 BitMine bought about 28,086 more ETH; its reported total holdings reached 5.93 million ETH, close to 4.9% of total supply, and a large portion of its assets is staked. To be honest, this kind of buying looks more like long-term hoarding than a quick trade.
👀 But large-scale buys can’t be directly interpreted as bullish, either. Abraxas Capital bought about 13,000 ETH, reportedly to hedge its short position of around 141,000 ETH on Hyperliquid. Anyway, the whales are active—but their actions are completely inconsistent in direction.
💡 Weekly ETF inflows fell from about $824 million to $218 million, which is definitely much slower. On the other side, within 48 hours more than 116,000 ETH flowed out to trading platforms—meaning the sellable supply is shrinking.
🤔 What I’m genuinely looking forward to is the upgrade progress. Glamsterdam is targeted for Q4 2026, with plans to increase network throughput. Even further out, Hegotá is still researching paying Gas using USDC and USDT. Do you value the whales’ continued accumulation more, or the upcoming upgrade rollouts?
#ETH #以太坊 #链上数据 # Ethereum upgrade
🔥 BitMine bought about 28,086 more ETH; its reported total holdings reached 5.93 million ETH, close to 4.9% of total supply, and a large portion of its assets is staked. To be honest, this kind of buying looks more like long-term hoarding than a quick trade.
👀 But large-scale buys can’t be directly interpreted as bullish, either. Abraxas Capital bought about 13,000 ETH, reportedly to hedge its short position of around 141,000 ETH on Hyperliquid. Anyway, the whales are active—but their actions are completely inconsistent in direction.
💡 Weekly ETF inflows fell from about $824 million to $218 million, which is definitely much slower. On the other side, within 48 hours more than 116,000 ETH flowed out to trading platforms—meaning the sellable supply is shrinking.
🤔 What I’m genuinely looking forward to is the upgrade progress. Glamsterdam is targeted for Q4 2026, with plans to increase network throughput. Even further out, Hegotá is still researching paying Gas using USDC and USDT. Do you value the whales’ continued accumulation more, or the upcoming upgrade rollouts?
#ETH #以太坊 #链上数据 # Ethereum upgrade
