NEW!Incredible offer for our exclusive subscribers! Read More
CryptoOther

ETH’s Top 10 Whales Have Doubled their Holdings in the last 8 Months

1 Mins read
  • Ethereum’s top 10 non-exchange whale addresses have doubled their holdings in the last 8 months
  • At the same time, the ETH holdings of the top 10 exchange whales have halved in 7 months
  • Value locked on DeFi using Ethereum has doubled in the last 3 months
  • All these events and data point towards a continuation of Ethereum’s bullish momentum

Ethereum’s top 10 non-exchange whales have doubled their ETH holdings in the last 8 months. At the same time, the holdings of Ethereum’s top 10 exchange whales, have halved in the last 7 months.

Источник: cryptonews.net

The accumulation and depletion of Ethereum between non-exchange whales and crypto exchanges was captured by the team at Santiment through the following statement and accompanying chart.

Ethereum touched yet another All Time High of $3,524 a few hours ago before dropping on a mild market-wide correction. Top 10 non-exchange whale holdings have doubled in the past 8 months, while the top 10 exchange whales halved in the past 7 months.

Value Locked in DeFi using Ethereum Doubles in 3 Months

As mentioned by the team at Santiment, Ethereum has just posted an all-time high of $3,524. The new all-time high can also be attributed to more ETH being locked in DeFi in addition to whales accumulating.

In an earlier analysis, the team at Santiment pointed out that the amount of Ethereum locked in DeFi has doubled in the last 3 months. This observation confirms the mass exodus of ETH out of exchanges and into DeFi, as seen through the following chart.

Ethereum is Set to Keep on Growing in Value

At the time of writing, Ethereum is consolidating at the $3,300 price area after yesterday’s drop to the $3,085 price area. The dip was the result of US Treasury Secretary, Janet Yellen, commenting that interest rates might have to increase to protect the economy from ‘overheating’.

An increase in interest rates by any Central Bank is seen as a way of reducing inflationary pressure by increasing the cost of borrowing and incentivizing saving. Higher interest rates tend to have a ripple effect as consumer spending reduces leading to a slower economy.

However, Ethereum’s fundamentals continue to show promise as illustrated by whales accumulating and total value locked on DeFi continuing to increase. Therefore, Ethereum’s price will likely keep rising as ETH2.0 is implemented.

Related posts
Other

Cointolab blocked more than 10 thousand wallets from Russia

1 Mins read
The Cointolab platform said it has blocked more than 10,000 wallet addresses associated with Russian individuals or entities that it believes are…
AltcoinsBTCCryptoETHMiningOtherStock

Bitcentr launched the largest aid campaign!

1 Mins read
Ukraine is at war, war for our freedom but also for European freedom and democracy. People of Ukraine are in a big…
Other

Cryptexby with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of Cryptexby.com are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *