How is Ethereum concentrated in whale wallets currently?

Currently, 104 whale wallets hold over 57% of Ethereum's total supply, totaling about $333.1 billion. This concentration suggests that large stakeholders maintain a bullish outlook, continuing to acquire Ethereum even amid market fluctuations.

What are the potential effects on market stability?

The concentration of Ethereum within whale wallets can play a dual role. On one hand, the accumulation by long-term holders (LTHs) can bolster market stability. Their confidence in Ethereum's potential means they are less inclined to sell during downturns, which can mitigate supply shocks and bolster prices.

What liquidity risks can arise from this concentration?

On the flip side, this concentration can pose liquidity risks. Should these whales choose to liquidate their holdings, it could lead to rapid price declines and increased market volatility. The influence of a few large wallets can hinder market liquidity, making it more vulnerable to abrupt price shifts, whether from sell-offs or buying frenzies.