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COINOTAG News (September 3) reports a clear directional divergence among major ETH holders during August: ultra-large holders (“Whales“, ≥10,000 ETH) were the primary drivers of an upward on-chain flow, recording a peak net inflow exceeding 2.2 million ETH on August 30, although their accumulation has since paused.
Concurrently, mid-tier holders (“Dolphins“, 1,000–10,000 ETH) reversed weeks of selling and resumed steady accumulation, contributing a reported net addition of over 411,000 ETH in the past 30 days; this shift in holder behavior alters market positioning and is a notable signal in on-chain metrics for assessing supply concentration.
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