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Crypto Whales Accumulate as Retail Pulls Back
Major cryptocurrency holders are increasing their positions in Ethereum, Chainlink, and Bitcoin, according to on-chain data, in a sign of strategic accumulation that contrasts with recent retail-driven selling pressure.
Ethereum’s staking ratio reached a new milestone of 30% on Monday, locking over $120 billion worth of ETH on the network. The all-time high indicates growing institutional confidence in the network’s value proposition.
On Tuesday, crypto mining firm Bitmine Immersion staked an additional 86,848 ETH, worth $279.4 million, bringing its total staked to 1.77 million ETH valued at $5.65 billion, according to Arkham Intelligence.
A separate, newly created wallet also...