Ethereum Whales And Sharks Bought 561k ETH In A Single Day
As per data from analytics firm , ETH whale and shark addresses are accumulating back towards pre-Merge levels. The relevant indicator here is the “ETH supply distribution,” which tells us which wallet groups are currently holding what percentage of the total Ethereum supply.The holder cohorts with wallet balances lying in the range are sharks and whales. Movements from these investors (especially the whales) can have noticeable impacts on the market.
Earlier in the year, these humongous investors accumulated during the Merge hype, and subsequently dumped the crypto in a sell-the-news event as soon as the actual PoS transition took place (which can be seen by the sharp plunge in the chart).
After the recent accumulation, the whale and shark holdings have now returned close to the levels they were before the Merge leadup.ETH Price
At the time of writing, Ethereum’s price floats around $1.2k, down 1% in the last week. Over the past month, the crypto has lost 21% in value.
The below chart shows the trend in the price of the coin over the last five days.Featured image from Todd Cravens on Unsplash.com, charts from TradingView.com, Santiment.net