18% of all Ethereum is in just 10 addresses
Whales are investors with large amounts of an asset. In the case of Ethereum, the 10 largest whales in the network hold around $47 billion in their portfolios, according to Santiment.
Also according to a recent company publication, whales are accumulating more ETH recently. At the same time, the amount of Ethereum on exchanges reached the lowest mark since 2015.
The amount of Ethereum present at the addresses of the 10 largest ETH whales represents 18% of the total supply. ETH’s recent rally has further boosted purchases by whales.
The accumulation of cryptocurrencies by whales is an indicator seen with optimism in the market. It indicates the interest of big investors to watch prices rise.
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Added to this, there is also the low supply in exchange portfolios. This is another factor that represents a long-term accumulation trend.
Since whales can cause strong price swings with large sell orders, the buildup gives sardines a certain “quietness”.
In addition, Santiment said investor sentiment on Twitter was boosted by the pursuit of the $2,400 break.
At the moment, ETH investors are showing the most optimistic attitude towards the cryptoactive since May.