Ethereum whales are accumulating at an unprecedented rate
According to data from IntoTheBlock, these holders now control a massive 30.07 million Ether , marking a significant rise from the 26.56 million ETH they held at the start of 2023.
This growth, representing an increase in holdings of addresses that own over 0.1% of the supply, suggests ongoing and enthusiastic accumulation of the world's second largest digital currency by market capitalization. Meanwhile, the market is observing a striking difference in behavior among various groups of Ethereum holders.In the past 30 days, long-term holders, or hodlers , have increased their holdings by 4.54%. Conversely, midterm holders, or cruisers , saw a slight decrease in their balance by 0.38%, and short-term holders, or traders , saw a significant decrease by 17.5%.price managed to record a minor gain of 1.8%, with the currency now trading around $1,814.54.
In the grand scheme of Ethereum's holdings distribution matrix, the vast majority of addresses hold less than 0.1 ETH, accounting for a relatively minor percentage of the total coins. On the other end of the spectrum, the addresses holding between 1,000 and 100,000 ETH — primarily composed of institutional investors and whales — represent a significant portion of the coin's total supply.
Their current holding value is estimated to be approximately $70.09 billion, underlining the profound influence these entities have over the Ethereum market.
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