Ethereum Price Falls, But Whales Push Holdings To 10-Week High
On-chain data shows large wallets on the Ethereum network have continued to accumulate despite the price decline that the asset has faced. Ethereum Holders With At Least 100,000 ETH Now Control 22% Of Supply According to data from on-chain analytics firm Santiment, the Ethereum investors owning at least 100,000 ETH have been accumulating recently. At the current exchange rate, this 100,000 ETH cutoff converts to nearly $200 million, so the only holders that would qualify for the cohort would be the big-money ones. In fact, the sums held by members of this group are so significant that they would be classified as large even among the whales, the popular cohort for classifying influential investors. Now, here is a chart that shows the trend in the total supply held by these Ethereum mega whales over the last few months: As displayed in the above graph, the Ethereum investors with 100,000+ ETH have collectively added a net amount to their holdings since the start of May. Interestingly, this trend of accumulation has maintained despite the bearish turn that the market has taken in the second half of this month. From the chart, its visible that these humongous ETH investors now hold a total of 17.41 million tokens, the