Ethereum Whales Face Unrealized Losses Across All Tiers

Ethereum holders, particularly those classified as whales, are experiencing unrealized losses for the first time in the current market cycle. According to NS3.AI, these whales, who hold more than 100,000 ETH, between 10,000 to 100,000 ETH, and 1,000 to 10,000 ETH, are now underwater. The data indicates that retail investors with less conviction have already exited the market.