Key Takeaways

Why are sharks dominating Ethereum accumulation now?

Sharks holding 10k-100k ETH are aggressively buying as whales exit spot markets, causing a surge in wealth concentration and network inequality.

What does this mean for Ethereum’s price outlook?

If shark demand strengthens and aligns with whale Futures activity, ETH could rebound toward $4,390, but failure to hold $4k risks a drop to $3,886.

Ethereum [ETH] has declined for seven consecutive days, breaching $4k, and briefly touching $3.9k before rebounding. At press time, Ethereum was trading at $4005, marking a 4.08% decline over the past 24 hours. 

Amid this price breakdown, investors, especially sharks, have taken the opportunity to accumulate aggressively. 

Sharks displace Ethereum whales

Interestingly, with ETH facing intense downward pressure, the market has witnessed a dramatic shift in power dynamics. 

According to Alphractal’s founder, Joao Wedson, the number of Ethereum whales has dropped massively, with sharks taking over. 

As such, addresses holding 10k-100k ETH have turned to aggressive accumulation and now take a chunk of the market share. 

At the same time, the Gini Coefficient has started to rise, suggesting that ETH is becoming more concentrated in wealthier addresses, especially sharks.

With sharks accumulating at higher rates than smaller holders, it has resulted in a massive spike in network inequality.