IntoTheBlock: Ethereum Whales’ Holdings Rise to 43%, Approaching Retail Investors’ 48%

According to data from IntoTheBlock, the market dominance of Ethereum’s largest holders has been steadily increasing since 2019, with these addresses continuing to accumulate more ETH.

This accumulation trend accelerated in early 2023, coinciding with the Shanghai upgrade. Currently, these whale addresses control over 43% of Ethereum’s circulating supply, approaching the collective 48% held by retail investors.