Ethereum Whales Increase Their Holdings
As the cryptocurrency market shows signs of optimism with the rising prices of various digital assets, Ethereum (ETH) appears to be attracting increased interest from its whales. These large holders now collectively own around $125 billion worth of ETH, making up 52% of the circulating supply.
Notable Increase in ETH Holdings
The top 200 Ethereum whales currently hold approximately 62.76 million ETH, as reported by X user behind the OneArt crypto wallet. This figure represents a 30.3% increase compared to a year ago when these addresses held 48.2 million ETH. The surge in ETH holdings coincides with the network’s highest growth level since July 2023.
Surge in New Ethereum Addresses
In a recent analysis shared on November 21, blockchain analytics platform Santiment revealed that November 20 saw the creation of approximately 94,700 new Ethereum addresses. This marked the highest number of new address creations in over four months, indicating growing interest in the Ethereum network.
Bullish Signs for Ethereum
When combined with positive factors such as the launch of Blast, an Ethereum layer 2 project that bridged over $230 million in ETH and stablecoins within its first 48 hours, the increased interest from whales becomes a bullish sign for Ethereum’s future.
Hot Take: Ethereum Whales Signal Positive Momentum
The growing holdings of Ethereum whales and the surge in new addresses suggest a positive outlook for Ethereum’s market. With significant investments from large holders and the successful launch of projects like Blast, it seems that confidence in Ethereum is on the rise. As more investors and users participate in the network, we can expect further growth and potential price appreciation for ETH.
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