Ethereum Whale Tracking

In this dashboard, the top Ethereum holders known as “Whales” are tracked. Through this analysis, users can better understand who controls the supply of ETH and some of the top addresses to follow. In addition, metrics around the flow of ETH, how many transfers, deposits, and withdrawals are also observed since the beginning of 2022. Data is all provided by Flipside Analytics. If you are curious to see more analytics follow me on twitter @jphackworth42 and the community of data analysts at @MetricsDAO

ETH Flow

The first thing to understand is that distribution of ETH as is. As of writing the top 1000 addresses control over 60% of the ETH supply. While this sounds like a ton (which it is) this is composed of addresses that include ETH2, Central Exchanges, DeFi, and other dapps. Right now, the amount of ETH that has been converted to ETH2 is around 11% of the supply. Some of the other big players include Kraken, Binance, Gemini, and other exchanges. However, most of the wallets in the top 1000 are actually not labeled by flipside, which will be the focus for the rest of this dashboard Looking at the ETH distribution.

Over 800 of the wallets are not labeled in the top 1000 addresses by Flipside. Central Exchanges addresses come with the second most amount of ETH.

Ethereum Wallet Whales

The purpose of this dashboard is to look at whales. To do that, those that are labeled as central exchanges, dapps, defi, etc. have been excluded. What is interesting is that the top non-labelled wallets has over 1.95M ETH which translates to 3.34 Billion USD dollars. THAT IS CRAZY! There is a gradual drop off in the balance of ETH with the 500th ranked wallet having around 24k. Even to be in the top 1,000 wallets a user has to have over 11k+ ETH or close to $20M. As of 7/29 This did not seem as big to me as I would have thought but they may have other assets, addresses, and ETH locked up in DeFi.

Ethereum Whale Stats For 2022.

Few interesting things I observed this year about these wallet: -Most of these wallets have very few ETH transfers (less than ten). Either they are just HODLers or just not interacting with the greater Ethereum ecosystem (DeFi, NFTs, etc.) -These Wallets are that old! Whie some of the wallets have been around since 2016, most of the wallets first active transaction was post the 2017. Perhaps most of the users change their wallets over the years. -The outflows of wallets is quite spread, but the biggest wallets did not transfer anything out for the most part

ETH Whale Transaction History for 2022

Looking at ETH Whale transactions, they have remained relatively steady with 2000-3000 transactions per day. As mentioned before, ETH whales did very few transactions per account. I imagine there are a few arbitrage / quantitative bots that are making up these transactions (in fact one account did over 700k+ of transactions?). Whales have also increased their Ethereum positions by over 9.2M. Activity really started to flow around April and recently there has been quite an uptick in the past few weeks. On a given day there is also around 30-60 active whales transferring ETH.

Conclusion

In conclusion, while 60% of the ETH supply is held by the top 1000 addresses, some of these addresses are ETH that is staking for the merge, wETH, Central Exchanges, and dapps. Looking at ETH whales (non-labelled accounts), the top 1000 whales still hold over 20M dollars worth of ETH. For the most part, whales tend not to transact that much (although some ETH holders may be bots and transacting extremely frequently). For this year the top 1000 addresses have increased their ETH position in total by 9.2M especially increasing their positions when the market conditions worsened. A tale as old as time!