Santiment: “Whales” Accumulated Over 21% of Ether
Ether (ETH) is gradually recovering its positions after a strong fall in the middle of this week.
On Friday, September 10, the altcoin price is approaching $3,500. The ETH capitalization decreased by almost 10% to $402.501 billion in seven days.
In a review by the Santiment team, the largest Ethereum addresses have risen periodically during the past 15 weeks. The ten largest “whale” wallets during this time accumulated almost 21.4% of ETH of the total crypto market supply. As a result, these investors now control the largest share of the ether since May 2017.
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 among small investors. According to CoinMetrics, since January 2021, over 6.2 million unique wallets have registered on the Ethereum network, which now hold 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 noted in the report.