A notable development in the ETH market this week: major institutional players are consolidating their positions rather than accumulating new holdings. Current positioning shows over $12 billion locked in staking—representing more than 3% of the entire ETH circulating supply. The average entry appears to have been around the $3500 mark, suggesting a strategic accumulation period during softer price action. This kind of large-scale staking commitment often signals confidence in medium-term network fundamentals. Market watchers should monitor related assets like BMNR for potential correlated movements, as whale-scale positioning typically precedes broader market shifts. The scale of this move warrants close attention for anyone tracking institutional crypto strategies.