Whales accumulate more than 21% of the Ethereum

by in Cryptocurrency News

Whales

Ether (ETH) is gradually recovering its position after a strong fall in the middle of this week.

On Friday, September 10, the altcoin price is approaching $ 3,500. ETH capitalization in seven days decreased by almost 10% to $ 402.501 billion.

In a review by the Santiment team, the largest Ethereum addresses have risen periodically over the past 15 weeks. The ten largest "whale" wallets during this time accumulated almost 21.4% of ETH of the total cryptocurrency market supply. As a result, these investors now control the largest share of the ether since May 2017.

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If you pay attention to the chart presented by analysts, you will notice that the Ethereum whales were aggressively buying up cryptocurrency at the bottom, that is, at the time of market correction.

At the same time, the trend towards accumulation persists in the camp of small investors. According to CoinMetrics, since January 2021, more than 6.2 million unique wallets have registered on the Ethereum network, which now holds between 0.01 and 0.1 ETH.

The same strategy is demonstrated by all other categories of altcoin holders. As of September 10, nearly 5.7 million addresses control at least 0.1 ether, Glassnode said in a report.