Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In contrast, the 10K-100K ETH cohort has been on a buying spree, adding 5.6 million ETH between mid-2025 and Thursday. This cohort's balance rose from 14 million ETH to 19.6 million ETH during the period. In addition, mega-whales, with a balance of 100K+ ETH, were major buyers, recording net inflows of 1.8 million ETH since mid-2025. Source: CryptoQuantAt the same time, Bitcoin trades about 21% above its realized price of $52.9K.