- Ethereum’s top 100 addresses shed 2.9 million ETH since May.
- Cardano’s largest wallets steadily accumulate ADA amid market indecision.
- Whale activity highlights contrasting confidence in Ethereum and Cardano networks.
Recent blockchain data shows a sharp contrast in behavior between Ethereum (ETH) and Cardano (ADA) whales. While top Ethereum holders are reducing their positions, Cardano’s largest wallets are accumulating. These diverging trends may reflect differing levels of confidence in each network. Both assets remain in consolidation phases, with key technical levels in focus.
Ethereum Whales Reduce Exposure Despite Bullish Momentum
Meanwhile, data shared by joao_wedson shows that the top 100 Ethereum addresses have trimmed their holdings significantly since May. Their collective share of ETH supply dropped from 22% to 19.6%, amounting to a decrease of 2.9 million ETH.
Analysts suggest this behavior may signal waning confidence among major players, including exchanges, institutional funds, or former miners.
This decline in holdings comes despite Ethereum’s strong price performance in recent weeks. ETH is currently trading at $3,712.20 and is consolidating just below resistance at $3,900.
The asset previously reached its target range of $3,200–$3,400 and is now moving within a horizontal channel. Support remains around $3,400, while resistance is close to $4,000.
The Relative Strength Index (RSI) is near neutral, indicating a lack of strong momentum in either direction. A breakout above $3,900 could drive ETH higher, while a drop below $3,400 may trigger a retest of the $3,200 level.
Cardano Whales Accumulate as Price Holds Key Support
In contrast to Ethereum, Cardano’s largest wallets are steadily accumulating ADA. On-chain data shows consistent buying activity among the top 100 addresses. This pattern is being interpreted as a sign of strategic accumulation and long-term positioning.
Cardano is trading at $0.8203, showing a slight decline of 0.47%. The price recently bounced off support at the lower Bollinger Band near $0.76, a level that has now become a key floor.
The RSI is at 48.91, indicating neutral market momentum. ADA is currently testing the middle Bollinger Band, with resistance expected near the upper band at $0.88–$0.90. A move above $0.85 could reignite bullish sentiment, while a drop below $0.76 may lead to increased selling pressure.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
