- As of today, around 400,000 validators have staked over 12,500,000 units of ETH, according to Ethereum.org. Furthermore, the ecosystem’s burning campaign continues, having a considerable impact on market prices. More than 2.3 million ETH have been destroyed thus far.
- According to the market intelligence business, entities owning 1,000 to 10,000 ETH have abruptly added a total of 142,000 ETH, valued at $407,415,040 at the moment.
- In the last several days, Ethereum whales have increased their activity dramatically, completing roughly 2,600 transactions worth more than $1 million each. Since January, this is the biggest number of such transactions in a single day.
After four months of idleness, Ethereum whales have begun to aggressively accumulate ETH, according to Santiment. In the last several days, Ethereum whales have increased their activity dramatically, completing roughly 2,600 transactions worth more than $1 million each. Since January, this is the biggest number of such transactions in a single day.
Recent Activity Of Ethereum Whales
This rise in activity occurred amid a market-wide downturn that sent shockwaves throughout the crypto world, according to the business. For example, Ethereum was trading at $3,000 until May 5, when it dropped by $300 in minutes. In the days that followed, the situation only got worse, and ETH found itself trying to stay over $2,000.
Yesterday, this psychological support line gave way, and ether dropped to $1,700. This is the lowest price since April of last year. ETH, on the other hand, has recovered nicely from the loss and now trades at $2,100.
A whale, according to Santiment, is an Ethereum investor who has invested $1 million or more. These would be addresses worth $100k or more for many assets. Due to the dissimilar market cap levels of Bitcoin and Ethereum, whales are often characterized as having a market cap of $1 million or more (depending on current price levels). — the company stated last month.
Aspects Fundamentals
Santiment revealed on May 2 that after four months of dormancy, deep-pocketed Ethereum investors had begun to actively accumulate ETH. According to the market intelligence business, entities owning 1,000 to 10,000 ETH have abruptly added a total of 142,000 ETH, valued at $407,415,040 at the moment. The Ethereum community is gearing up for its biggest event yet, called The Merge, which will see the blockchain switch from proof-of-work to a proof-of-stake consensus method.
This shift has been considered as a highly bullish move, with a large number of institutional and notable investors eager to join. As of today, around 400,000 validators have staked over 12,500,000 units of ETH, according to Ethereum.org. Furthermore, the ecosystem’s burning campaign continues, having a considerable impact on market prices. More than 2.3 million ETH have been destroyed thus far.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/05/14/whale-transactions-on-ethereum-have-reached-a-four-month-high/