Or have pretty much all of the ancient whales touched an exchange or cashed out?
The possibilities could be many:
1. Having cashed out
2. Having lost their access to wallets
3. Some have possibly (god forbid) left us, without informing their next-in-kin about their bitcoin holdings.
The maximum I see about such whales is sudden news articles about some bitcoin whale address moving funds - this is a nice method to generate a lot of FUD and eventual market drop in bitcoin price, it is safe to ignore these news articles and stay away from trading for a few days surrounding such events.