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Whales Now Hold 32.3% of Total ETH supply
Ethereum’s whale addresses, holding at least 1 million ETH, now hold 32.3% of the total available supply, according to crypto analytics firm Santiment. This marks the first time since 2016, seven years ago, that whale addresses at the #billion level hold at least 1 million ETH. Yesterday was the second highest day in five weeks for transactions over $1 mn.
On Monday, Ether transactions over $1 million reached their second highest day in five weeks, according to Santiment. The Ethereum Foundation’s recent sale of 1700 ETH for USDC 2.76 million caused a 3% drop in the price of ETH within 24 hours, despite an increase in the number of ETH held by Ethereum’s whales.
(With inputs from Shikha Singh)
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