Ethereum Whales Now Hold 947,940 ETH More In Their Wallets
As per data from the analytics firm , this jump in the whale holdings is the 5th largest in this year so far. The relevant indicator here is the “Supply Distribution,” which tells us the percentage of the total Ethereum supply that each wallet group has right now.Looks like the value of the metric has sharply gone up in recent days | Source:
The significance of the 10k-1m coins group is that it represents the wallets owned by large Ethereum whales. In the USD, this range corresponds to holdings worth between $10.9 million and $1 billion.
As you can see in the above graph, the Supply Distribution value for this ETH wallet group has shot up recently.Related Reading: Latest Findings Show Bitcoin Holders Under Fire As Price Continues To Sink
If a similar trend follows this time as well, then the current accumulation from whales may also have a bullish impact on the price of Ethereum in the coming days.
ETH Price
At the time of writing, Ethereum’s price floats around $1.1k, down 4% in the last week. Over the past month, the crypto has lost 13% in value.
Below is a chart that shows the trend in the price of the coin over the last five days.The value of the crypto seems to have plunged down during the last couple of days or so | Source:
Featured image from Abigail Lynn on Unsplash.com, charts from TradingView.com, Santiment.net