Ethereum

ETH Sales Continue While Whales Hold One Third of the Supply in Ethereum!

10/19/2023
Bitcoin Ethereum News

Ethereum, which performed very poorly against

Bitcoin

this year, rose to $ 2,100 during the year.

Currently trading approximately 25% below this level, ETH is at $1,578 at the time of writing.

While ETH remains at low levels, on-chain data provider Santiment said ETH is concentrated in the hands of whales.

Accordingly, Santiment reported that as of October 18, billionaire

Ethereum

investors with more than 1 million ETH held 32.2% of the available supply for the first time since 2016.

In addition to this record figure, Santiment added that

Ethereum

transactions exceeding $ 1 million reached the second highest day of the year.

“Billionaire-tier whale addresses on Ethereum (holding at least 1 million ETH) now hold 32.3% of the available supply for the first time since 2016.

“Yesterday’s Ethereum transactions exceeded $1 million and were also the 2nd highest day of the year.”

Stating that these developments are a historical moment in ETH, Santiment did not comment on the ETH price.

Santiment also did not specify whether those holding these figures include organizations such as centralized exchanges or stablecoin issuers that hold a lot of ETH.

Apart from Santiment, Glassnode also shared important ETH data. According to this data,

Ethereum

whales holding 1,000 or more ETH are gradually reducing their assets, and whales appear to have sold approximately $20 million in ETH since 2020.

In addition, Glassnode added that it protects the assets of

Bitcoin

whales holding more than 1,000 BTC.

Time will tell whether

Ethereum

sales will continue and whether these sales will affect the ETH price.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Source: https://en.bitcoinsistemi.com/eth-sales-continue-while-whales-hold-one-third-of-the-supply-in-ethereum/