Points of Focus

• The number of Ethereum wallets holding at least 100,000 ETH rose from 54 to 57 in one week.
• The jump coincides with ETH breaking above $2,250 for the first time in weeks.
• Whale accumulation historically correlates with price direction, though the signal is not always immediate.

The number of wallets holding at least 100,000 ETH has increased from 54 to 57 in just one week, according to on-chain analytics platform Santiment. This jump coincides with ETH breaking above $2,250 for the first time in weeks, adding to signs that large holders are becoming more active.

What the data shows

On-chain analytics reveal that wallets in the 10,000 to 100,000 ETH range accumulated roughly 230,000 ETH over the past few days. At current prices, each of the three new 100K+ wallets represents at least $225 million in ETH.

🐳 The number of Ethereum wallets holding at least 100K $ETH has jumped from 54 to 57 in the past week. You can expect a level of correlation with price when this number grows, and there is strong justification that the #2 market cap can continue its rise. pic.twitter.com/bYYHoY4Y5M

— Santiment (@santimentfeed) April 13, 2026

 

The bigger whale picture is also constructive. The Ethereum Foundation made its largest single deposit yet, staking 22,517 ETH and pushing total staked ETH to 32% of the network’s supply.

Santiment’s chart shows the 100,000+ ETH wallet count at its highest level since early March 2026. The previous peak in this cohort preceded a sustained rally from $2,000 to above $2,200.

 

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Why it matters

Whale wallet counts in this size tier are a slower-moving signal than exchange flows or funding rates. These wallets represent long-term capital that is unlikely to exit quickly. A jump from 54 to 57 in one week means three new large entities, or existing ones crossing the threshold, are now committed holders at these levels.

 

 

ETH is the second-largest cryptocurrency by market cap and its price movements have historically lagged Bitcoin during broad market recoveries. During the most recent rally, ETH gained 3.7% on April 6, 2026 while Bitcoin rose 3%, showing relative strength that analysts linked to growing confidence in its staking utility and ecosystem depth.

 

Whale accumulation not sustained rally

Whale accumulation does not guarantee a sustained rally. Glassnode data shows the Ethereum holder net position change peaked at 543,169 ETH on March 21, 2026 before collapsing 78% by late March 2026. 

When this pattern turned negative in early February 2026, it preceded a 46% price decline. Conviction among longer-term holders can erode quickly when macro conditions shift, and ETH struggles continuing means it has not posted a positive monthly close since August 2025. Add to that an attack in mid April 2026 that exploited Hyperbridge to mint 1 billion DOT on Ethereum. Fortunately, the attacker was only able to realise only 108.2 ETH due to low liquidity.

 

 

Currently, whale wallet counts are rising while overall hodler conviction appears to be weakening. These two signals are pulling in opposite directions; one showing new large-wallet formation, the other reflecting whether existing holders are adding or trimming. Both matter equally.

For now, the balance favors the bulls. Three new wallets above the 100,000 ETH threshold in seven days, combined with the Ethereum Foundation’s largest ever single stake, suggests the smart money is positioned for more upside, not a retreat.