Ethereum Wallets with 100K+ Coins Hold 43.7% of Total ETH Supply, Here’s What It Means for Market
Data shared by the Santiment analytics vendor shows that large ETH whales, whose wallets contain more than 100,000 ETH, have largely increased their ETH holdings over the past three years.
Now, these monsters hold almost half of the total Ethereum supply.
Meanwhile, as Ethereum options open interest has hit the $4 billion level (its highest since may), according to the data privided by Bybt, it may signify that the crypto market is getting overheated.
100K ETH whales’ riches grow 8 percent
According to the recent Santiment’s tweet, Ethereum whales continue to accumulate the second largest cryptocurrency.
Compared to three years ago, wallets that hold more than 100,000 Ether have grown their crypto contents by 7.9 percent. After owning 35.8 percent of the whole circulating ETH supply back then, they now hold 43.7 percent of ETH.
On August 11, 2018, Ethereum was trading at $322 per coin. Today, the native crypto of Vitalik Buterin’s blockchain platform is changing hands in the $3,200 area. Earlier this year, on May 12, it reached a new all-time high of $4,362.
🐳 #Ethereum whale addresses aren't stopping their accumulation as prices hover above $3,100. 3 years ago to the day, addresses with 10k+ $ETH owned 35.8%. Today, they own 7.9% of the #2 market cap asset's total supply. There are 1,338 of such addresses. https://t.co/wVVPHCDmI9 pic.twitter.com/SGTaXXYhjI— Santiment (@santimentfeed) August 13, 2021
“Millionaire tier” whales hold 39.2 percent of ETH supply
Previously, U.Today reported that “millionaire tier” whales (with 1,000 to 100,000 coins in their wallets) had been accumulating Ether as well as. Therefore, by now they hold 39.2 percent of the total Ether supply.
That was covered before the London hardfork, when ETH reached a peak of $2,691.Source