- Ethereum whale addresses rose by 5K since March 10
- Total whale addresses still below December highs
- Indicates renewed confidence among large ETH holders
The number of Ethereum whale addresses, defined as wallets holding at least $100,000 worth of ETH, has been steadily climbing this March. According to blockchain analytics firm Glassnode, these high-value wallets grew from approximately 70,000 on March 10 to more than 75,000 by March 22.
This increase signals a renewed interest and potential confidence among large holders as Ethereum maintains its position as a leading cryptocurrency in both DeFi and smart contract adoption. The rise in whale addresses often correlates with market optimism or strategic accumulation during times of anticipated price movement.
Still Below the December Peak
Despite the recent uptick, the number of Ethereum whale addresses remains significantly lower than the levels seen in December 2023. On December 8, Glassnode data recorded around 146,000 such addresses — nearly double the current count. This gap suggests that while accumulation is resuming, many large holders have yet to re-enter the market fully or have diversified to other assets.
The trend will be critical to watch as Ethereum continues to navigate market fluctuations, network upgrades, and regulatory developments. A sustained rise in whale addresses could indicate stronger bullish sentiment ahead.
