Cryptocurrency analysis firm Alphractal has reported in its new report on Ethereum (ETH) that large investors have been saving significantly in recent months. According to the report, addresses holding between 10,000 and 100,000 ETH were the largest accumulators during Ethereum's recent bull market. The company noted that “Address Supply Bands” data is a key indicator for understanding the share of investor groups in total supply. Chart showing ETH address supply bands and price. Alphractal argued that this group of investors has been buying continuously since April, and that this trend generally correlates strongly with Ethereum price movements. He noted that during the periods between 2017 and 2021, when these addresses increased their ETH accumulation, the price rose accordingly. It was stated that as of 2025, addresses holding ETH in the range of 10,000–100,000 will hold a total of approximately 31 million ETH, which is a historical peak. Alphractal concluded its report with the following statement: “These major investors demonstrate extraordinary confidence in the future of Ethereum.” *This is not investment advice.