CryptoQuant Analyst Darkfost Says Ethereum Whales Are in Losses for First Time Since 2019

Ethereum whales are currently in unrealized losses for the first time since 2019, according to CryptoQuant analyst Darkfost. According to Odaily, Darkfost said that even during the 2022 bear market, the largest whales holding more than 100,000 ETH remained profitable. Darkfost reported that three whale cohorts are showing negative unrealized profit ratios: holders of 1,000 to 10,000 ETH at -0.26, 10,000 to 100,000 ETH at -0.21, and more than 100,000 ETH at -0.05. He said this condition has persisted for several weeks. Darkfost added that historically, when the ETH market tests whale conviction, a bottoming area often forms at the same time, and he said Ethereum has shown strong resilience so far.