Despite the recent weak price performance of the Taifeng and the continued financial outflows of spot ETFs, some institutions and giant whales continue to grow. The chain tracking data show that a16z addresses, Bitmine and Sharplink have all recently purchased or pledged ETH.

A16z offers 256,000 ETHs.

The Lokonchain data show that on 23 June, a wallet related to Andreasen Horowitz (a16z) presented 25,560 ETH from Binance, which was approximately US$ 42,622 million in price terms. Large coins are often seen by the market as a signal of a shift from trading platforms to long-term holdings or other chain arrangements.

On the same day, Tom Lee, under the flag of Bitmine, also bought 35,138 ETHs from BitGo and Kraken, valued at approximately $5,865,000. It was reported that Bitmine had purchased an additional 52,203 ETH over the past week, with an investment of approximately $92 million.

Sharplink continues to pledge ETH.

At the same time as the purchase was taking place, Sharplink added 509 ETHs to the pledge this week. According to the report, the company has accumulated 22,102 ETH gains.

This means that, despite secondary market price pressures, part of the holders are still increasing their exposure to the Ethers through increased holding and pledge, and the bets are improving in subsequent performance.

The price drops and the ETF outflows continue.

At the time of the submission, ETH reported $1671.94, a decline of 1.09 per cent for 24 hours and a decline of more than 20 per cent over the past month. At the same time, ETH ETF ' s financial profile has not improved.

  • Net cumulative outflows in June
  • Accumulated net outflows in May of approximately $540.8 million

In addition, there are highly leveraged transactions in the market. It was reported that a whale had built a warehouse of approximately $24.34 million in total size, including a 20-fold leverage SOL and 25-fold leverage ETH. However, the dealer subsequently levelled off the ETH warehouse, earning about US$ 1420,000.

There's been a change in the distribution of the warehouse on the chain.

Data on the supply distribution of Santiago show that the attitude of different size addresses towards ETH has not been consistent over the past three months. The holding of between 10 million and 100 million ETH addresses has gradually risen to approximately 135.2 million, indicating continuous absorption.

Since late May, medium-sized investors holding between 100 and 1,000 ETH have also increased their purchases. In comparison, the holding of 10,000 to 100,000 ETH and 100,000 to 1 million ETH has decreased.

In terms of data, this is more like a redistribution between different groups rather than a one-sided, centralized sale. If the rolls continue to shift from some large medium-sized addresses to mega- and small-scale investors, market availability may decline, which supports subsequent price repairs.