A picture that helps you understand #ETH whales🐳
The total circulation of E is about 120 million, with 6 major whales holding 50%, but this is based on incomplete staking statistics.
🔔 Interestingly: Traditional institutions and WEB3 are playing different cards.
① Since January this year, ETFs have increased their holdings by 2 million, while ETH MicroStrategy has increased by 3 million.
② However, WEB3 old OGs like #LIDO staking, #AAVE, and the Ethereum Foundation are losing ETH.
③ Recently monitored on-chain whales mostly have a bearish direction.
🚩 It’s important to note: The movements of whales do not necessarily reflect their true intentions.
For example, CME's "no-coin" futures have become a hedging tool, and the big plays behind MicroStrategy raise the question: who is really absorbing whom, coins or stocks?
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