Recent Ethereum news reveals a notable increase in whales, with 32.3% of the total ETH supply now held by these major holders.
According to yesterday’s Ethereum news, whales—those who own at least a million Ethereum—seem to be increasing at a rate not seen since 2016. Indeed, it seems that 32.3% of the entire ETH supply is currently held by Ethereum whales.
Ethereum news: 32.3% of all ETH supply is currently owned by billionaire whales
Santiment, a crypto analytics company, reports that it looks as though 32.3% of Ethereum’s supply is currently held by whale addresses—those with at least one million ETH.
“For the first time since 2016, #Ethereum’s whale addresses at the #billion level (with at least 1 million ETH) now hold 32.3% of the available supply. Yesterday was the second highest day in 5 weeks for transactions over $1M. History is being made”
It seems that this significant event is occurring for the first time since 2016, which is a full 7 years ago.
Furthermore, Santiment notes that another record was broken on Monday. Actually, it was the second-highest day in the last five weeks for ether transactions over $1 million.
Ethereum news: Foundation sells 1700 ETH in USDC, but whales continue to increase
Although Ethereum’s whales appear to be holding more and more ETH, the Foundation sold 1700 ETH a week ago for USDC 2.76 million.
The Ethereum Foundation’s action resulted in a -3% decline in the price of ETH during that 24-hour period.
Through Uniswap’s DEX (or decentralised crypto-exchange), the non-profit group behind the best smart contract cryptocurrency completed its transaction.
Naturally, there was no shortage of associated comments speculating that the foundation’s continued operations, which include research awards, were the reason behind the selling of ETH in USD coin.
The price of ETH compared to BTC yesterday and during the weekend
ETH is essentially at the same place as it was a week ago, despite Bitcoin (BTC) having increased by +5% during the past seven days.
In reality, the price of Bitcoin increased during the weekend, rising from $27,000 to $28,877 on Monday. As of this writing, the value of BTC is $28,583.
Conversely, ETH had a surge in value during the weekend, rising from $1,500 to $1614 on Monday. Sadly, the price has since fallen, and as of this writing, ETH is only worth $1581.
Ethereum has come a long way from its $1730 price in early October.
In contrast, the price of Bitcoin has risen over its initial October level of $28,500.
