Ethereums Enigmatic Whales Make Waves with Record-Breaking Holdings

By Lola Coin Jun 27, 202365Views

Data from on-chain analytics firm Santiment reveals that the top non-exchange Ethereum addresses, which are owned by the largest whales, have been accumulating more ETH recently. These whales hold a significant amount of influence on the network due to their ability to move a large volume of coins at once. The supply held by these mega whales has been steadily increasing over the past few years, with a brief decline during the first bear market relief rally. Meanwhile, the supply held by top exchange addresses has been decreasing, indicating that whales are withdrawing their coins from centralized platforms and opting to hold them in self-custodial wallets. This trend has led to the supply of the top 10 non-exchange addresses reaching a new all-time high of 33.47 million ETH. The price of Ethereum is currently trading at around $1,800, experiencing an 8% increase in the past week.

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