According to data provided by cryptocurrency analytics platform IntoTheBlock, Ethereum (ETH) whales are now He controls 43% of the cryptocurrency's total circulating supply after another accumulation spree.

As the company notes, this represents a significant increase compared to early 2023. At the time, whales controlled only 22% of the total token supply.

IntoTheBlock opined that this rise is likely related to Ethereum consolidation and collection opportunities.

The number of unique addresses supplying ETH for staking contracts currently stands at 210,100 after an 8.60% increase over the past 24 hours.

Cumulative amount Ethereum Tokens sent for staking amount to 55.96 million.

Ethereum is eyeing $3,500

Meanwhile, the price of Ethereum (ETH) is approaching the $3,500 level, according to CoinGecko data.

The leading altcoin is up nearly 2% over the past 24 hours, rebounding alongside other major altcoins.

Bitcoin, the highest cryptocurrency by market cap, rose to a high of $105,079 earlier today.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.