Ethereum Retail Distributions Weigh on Price as Consolidation Continues

Ethereum has been consolidating near $2,500 as retail investors continue to distribute their holdings. Over the past week, retail wallets holding between 1K and 10K ETH sold a combined 214K ETH, following a distribution pattern that began at the start of the year. This cohort started selling after Ethereum's price took a breather near $2,500, just above their average on-chain cost basis of $2,265.

Investors in the 100-1K ETH bracket also depleted their holdings by 93K ETH, continuing a distribution sentiment that has been prevalent since the beginning of the year. This represents a combined 307K ETH distribution from retail wallets.

Meanwhile, whales or wallets holding 10K-100K ETH slowed their buying pace from the previous week, with inflows of 82K ETH last week. Inflows into US spot ETH exchange-traded funds (ETFs) eased to $218.4 million last week from $824 million the prior week.

Ethereum's price has been stuck between $2,400 and $2,500 over the past week due to sustained retail distributions and a slowdown in whale and ETF buying.