Interesting data from @ethplorer after publishing an Aggregated Ranking of Ethereum addresses. Looking only at ETH holdings, the largest wallets control about $189B. But once ERC-20 tokens and stablecoins are included, that number jumps to roughly $426B. One detail stands out: around 58% of the capital held by top addresses isn’t in ETH itself. Even more surprising: when comparing the lists, the Top-1,000 wallets change significantly, with barely half of the addresses overlapping. Which suggests something important: The effects of altseason aren’t just visible on price charts, they’re reflected directly in how capital is distributed across Ethereum wallets.