Unheard-of ETH Staked! See What the Whales Have Been Up To! 🐋👀

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Ah, mesdames et messieurs! Gather ye round and lend me thine ears! Ethereum, that cheeky little rascal, has achieved quite a staggering feat: over 35 million ETH, worth almost the sum of the GDP of a small nation, has found its home in the clutches of staking contracts! What a grand affair! 🎉

And amidst this spectacle, a devoted band of ethereal holders, with the stubbornness of a mule, now clutch a record 22.8 million ETH, signaling their unwavering faith in the network’s fortunes—firmly planted, even as the market dances wildly like a jesting fool. 🤪

Whales, Oh Whales, Wherefore Art Thou?!

As if in a theatrical play, let us consult the wise sages of CryptoQuant! In but the first half of June, these Ethereum enthusiasts have stashed away an impressive surplus of 500,000 ETH in their coffers! This brings the total locked supply to the dazzling heights of 35 million—nearly 29% of the entirety of circulating Ethereum! Mon dieu! 💰

This frenzy is not merely to be viewed as a solo act; nay! There lies a backdrop of scuba-diving whales, accumulating their treasures with fervor. Our friends at Glassnode reveal that those monstrous addresses, basking between 1,000 and 10,000 ETH, have amassed over 800,000 units of this cryptocurrency daily like a crafty merchant hoarding jewels! 💎

On the fateful day of June 12, an astonishing 871,000 ETH was snatched up in a single swoop! A day such as this, harking back to the euphoric escapades of 2017’s grand bull run, sees these whales commanding over 16 million ETH, a treasure worth more than $40 billion! If that’s not wealth dripping with entrepreneurial prowess, I know not what is! 😅

Not to be overlooked, the winds of fortune have blown favorably for our dear Ethereum, as the U.S. Securities and Exchange Commission doth declare that certain staking activities require no further dance with the law! Though ETF approvals still linger like a poorly written plot twist, this declaration has ignited quite the impetuous staking rush. The ever-dominant Lido claims a quarter of this bounty, while Coinbase and Binance trail along like eager apprentices! 🎭

However, some market soothsayers raise an eyebrow, positing that this prolonged staking frenzy, in concert with the greedy whales, may constrict liquid supply, leaving the stage ripe for future price moves—should demand put on a thrilling performance! 🎶

The Price: A Tragic Comedy!

Yet, despite this cornucopia of robust fundamentals, our dear Ethereum’s price appears to be stuck in a tragicomic farce! With the tumultuous backdrop of military clashes stirring the pot, Ethereum wields its second-largest title in cryptocurrency market cap whilst trading around the drastically low figure of $2,534, bereft of nearly 2% in recent hours and moaning a hefty 9.3% loss over the last week! Oh, woe is me! 😩

But fear not, for hope lingers yet! A verdant flourish of 6.5% has graced the last 30 days, though, alas, year-on-year, it lingers in the proverbial red depth of 26.5%. 🎭

Lest we forget, the seers of technical analysis have spotted the whisper of a golden cross on the horizon! Should the 50-day Exponential Moving Average succumb to the spell of the 200-day EMA, a glorious uptick may follow. Our diligent analyst, Ted Pillows, pointed out that similar occurrences in the grand tale of trading history led to a bountiful rise from $3,000 to $4,000! 🎆

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2025-06-18 18:00