On-chain data shows Ethereum whales have sold around 12 million in the cryptocurrency within the past year and have shown no signs of slowing down.

Ethereum Whale Holdings Have Been In Constant Downtrend Since 2020

In a new post on X, analyst James V. Straten has discussed how the Bitcoin and Ethereum whales have shown some stark contrast in their behavior.

Here is the chart that the analyst has shared, which compares the trends in the holdings of these humongous holders for the two assets over their entire history:

For defining what a “whale” is, the analyst has chosen the 1,000 tokens cutoff for both assets. The graph shows that the holdings of the Bitcoin whales have been in an overall uptrend throughout the asset’s history.

Some deviations have been from this upward trajectory, …