Claim BonusDrastic Change In Ethereum Whale Holdings After Merge: What It Means?
The Ethereum Merge has not just brought about a change in the blockchain network architecture but also trading behavior. The much anticipated Merge event sparked a debate on reliability of proof of stake in comparison with proof of work consensus. But the price drop following The Merge was contrary to the market expectations in a largely negative environment. The change in Ethereum whale holdings activity throws a clear picture of how the ecosystem reacted to the event.
Ethereum Whale Holdings Drop
In parallel with the ETH price drop since The Merge completion, large holders of the cryptocurrency reduced their holdings. According to the findings of market intelligence platform Santiment, there was a clear dip in ETH holdings of whales. ETH addresses holding 1k to 10k $ETH saw a drop of 2.24% in their cumulative holdings while those with 100 to 1k holdings have dropped 1.41%.
“The Ethereum Merge on September 15 has brought on a shift in large address behavior. In the past 6 days since the shift to proof of stake, addresses holding 1k to 10k $ETH have dropped 2.24% of their cumulative holdings. Addresses with 100 to 1k holdings have dropped 1.41%.”
The price of ETH dropped by as much as 15% in the last seven days. As of writing, ETH price stands at $1,349.47, down 0.86% in the last 24 hours, according to price tracking platform CoinMarketCap. From close to 20% market share among major cryptocurrencies, Ethereum’s dominance is now down to 17.79%. Meanwhile, the crypto market awaits yet another major technical upgrade on Cardano network on Thursday.
Cardano Vasil Hard Fork To Repeat Scenario?
The Vasil hard fork upgrade improves the functionality, performance, scalability, and interoperability of the Cardano network. The network is ready for the upgrade with 75% of mainnet blocks created, 25 crypto exchanges upgraded, and top 10 DApps upgraded. With the Fed interest rate hike decision anticipated, the ADA price could fall following the hard fork. But there could be a recovery followed by a price rise, as per analyst predictions.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Trump Calls For Immediate Fed Rate Cuts After FOMC Holds Rates Steady
- Breaking: U.S. Jobless Claims Come In Above Expectations; Bitcoin Unchanged
- JPMorgan Reveals Why Bitcoin Price Rally Is Missing Despite Weak Dollar
- Trump-Backed USD1 Hits $5B Market Cap Amid World Liberty Bank Drama
- Metaplanet Plans to Raise $137M Via Stock Offering to Buy More Bitcoin
- Gold and S&P 500 Price Prediction as BTC $88K Sparks Global Risk-On Rally
- How High Can Hyperliquid Price Go in Feb 2026?
- Top Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe, and Pump. Fun as Crypto Market Recovers.
- Solana Price Targets $200 as $152B WisdomTree Joins the Ecosystem
- XRP Price Prediction After Ripple Treasury launch
- Shiba Inu Price Outlook As SHIB Burn Rate Explodes 2800% in 24 Hours
