Ethereum Whale Convergence Snapshot: May 4, 2026
48-hour on-chain convergence data — tokens where multiple distinct whale wallets bought simultaneously, with exchange and market-maker flow filtered out.
Published 2026-05-04 · Data anchor: 2026-05-04 00:23:47 UTC · Deep Blue Alpha
Observational snapshot of Ethereum whale buying activity in the 48 hours ending 2026-05-04 00:23:47 UTC. Exchange and market-maker flow filtered out. Everything below is descriptive.
Methodology
Convergence = number of distinct wallets that bought a token in the observation window. Aggregate USD matters, but it is not the headline metric — many buyers do not equal one big buyer.
- Buys only. BUY, SWAP_BUY, DEX_BUY directions.
- Window: 48 hours, anchored to 2026-05-04 00:23:47 UTC.
- CEX / market-maker wallets excluded. 4,709 transactions filtered out.
- Stablecoins and wrapped assets removed.
- Threshold: at least 5 distinct directional wallets, $100,000+ in 48h.
Full data table
| Token | Distinct Wallets | Total USD |
|---|---|---|
| $LINK | 144 | $8,052,735 |
| $KNC | 104 | $2,701,030 |
| $ONDO | 87 | $1,659,872 |
| $BIO | 81 | $4,336,019 |
| $WLFI | 67 | $1,491,150 |
| $GNO | 67 | $1,453,575 |
| $PEPE | 57 | $2,807,493 |
| $ENA | 56 | $931,556 |
| $XAUt | 53 | $1,021,284 |
| $SPK | 52 | $1,644,387 |
| $ARKM | 47 | $1,482,868 |
| $APE | 47 | $1,254,395 |
| $MASK | 46 | $824,879 |
| $BAT | 46 | $712,856 |
| $BOBA | 46 | $608,239 |
Frequently asked questions
What does whale convergence mean on Ethereum?
Whale convergence is the number of distinct wallets that made buys of a token in the observation window. Aggregate USD matters, but it is not the headline metric, because many buyers do not equal one big buyer. In this 48-hour snapshot, 108 tokens met the threshold of at least 5 distinct directional wallets and $100,000+ in buys.
Which token had the most whale convergence in the 48 hours ending 2026-05-04?
$LINK had the highest convergence, with buys from 144 distinct wallets totaling $8,052,735. $KNC was second with 104 distinct wallets and $2,701,030.
Are exchange and market-maker wallets counted in this snapshot?
No. CEX and market-maker wallets were excluded, which filtered out 4,709 transactions. Stablecoins and wrapped assets were also removed, and only BUY, SWAP_BUY and DEX_BUY directions were counted.
Can a token have a large USD total but a lower wallet count?
Yes. $BIO drew buys from 81 distinct wallets totaling $4,336,019, the second-largest USD total in the table behind $LINK's $8,052,735, while ranking fourth by wallet count. That gap is why the snapshot ranks tokens by distinct wallets rather than aggregate USD.
Does whale convergence predict where the price goes next?
No. The post is an observational on-chain data snapshot and contains no predictions, investment advice or recommendations. Past on-chain activity does not predict future price movement, and every wallet address is publicly verifiable on Etherscan.
About this snapshot
This is a weekly observational report. Previous snapshots live at /research. For a live view of whale activity, see the Trends dashboard and the whale wallet leaderboard. For related methodology, see our analysis of whale dry powder and our study of 37,099 whale-to-CEX deposits.
