Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BITCOIN NEWS»Ethereum giga whales showing historic buying trend
BITCOIN NEWS

Ethereum giga whales showing historic buying trend

By Crypto FlexsJanuary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum giga whales showing historic buying trend
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum whale I went on a buying spree. For the time being, this represents continued support for the king of altcoins. Purchases of these whales have particularly increased over the past few weeks. According to on-chain data from Santiment, Ethereum’s largest private wallet currently holds an all-time high of 56.25 million ETH, accounting for 46.8% of the cryptocurrency’s total circulating supply.

Ethereum whales accumulate record amount of ETH

Ethereum is currently trading in a range, as price trends show the cryptocurrency trading between a high of $2,434 and a low of $2,127 over the past 30 days. However, the cryptocurrency is showing signs of recovery after the recent price recovery and is currently building strong momentum above $2,200.

Amid the price fluctuations, Ethereum whales purchased more ETH for their wallets, pushing the total quantity to new highs. At the same time, these whales withdrew from exchanges, causing ETH in exchange-owned addresses to fall to its lowest level in five years.

According to data On-chain analytics platform Santiment currently holds a record 65.71 million ETH among its top addresses, accounting for 54.67% of total circulating supply. Of this figure, 56.25 million ETH belong to the top 150 self-managed wallets. As a result, the top 150 exchange-linked wallets currently hold 9.46 million ETH, which is close to the lowest level since June 2018.

Increased whale accumulation: a possible explanation

The cryptocurrency industry experienced a strong price surge in the fourth quarter of 2023, which turned the optimism around most cryptocurrencies into a bullish one. Ongoing Whale Acquisitions This could be linked to the expected continued price rise in 2024 amid the imminent approval of Bitcoin and Ethereum spot ETFs in the United States.

ETH market cap currently at $268 billion. Chart: TradingView.com

The accumulation of Ethereum’s biggest whales is a good sign for the long-term price as it signals that they believe the price will continue to rise. their purchasing power It also helps establish price support by reducing the supply of ETH for sale.

Spot on Chain I showed it recently The Ethereum whale identified as ‘0x931’ purchased 21,192 ETH worth approximately $48 million at an average price of $2,265. The latest purchase brings the whale’s total purchases since January 2023 to 79,500 ETH, with it now sitting on an unrealized profit of $36.84 million.

At the same time, the liquid staking protocol has witnessed steady deposits throughout 2023. DeFiLlama It shows that 12.3 million ETH ($27.585 billion) is currently locked in ETH liquid staking derivatives. This represents an 80% growth from 6.8 million ETH. Locked in January 2023.

Featured image from Pixabay

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

As Nano Labs begins to accumulate $ 1 billion, BNB gets a big supporter.

July 5, 2025

Bitcoin is integrated into less than $ 108,000, but the eyes are set for $ 115,000.

June 29, 2025

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025
Add A Comment

Comments are closed.

Recent Posts

GrayScale XRP ETF GETS sec NOD: XRP price prediction and market impact

July 8, 2025

Distribute Crypto Media Release That Get Attention

July 8, 2025

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025

NEXST Launches Web3 VR Entertainment Platform With K-Pop Group UNIS As First Global Partner

July 7, 2025

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025

A Trader’s Guide To Smarter Moves

July 6, 2025

Crypto Price Prediction Strategies – How Traders Forecast The Market

July 6, 2025

Causes, History, And How To Survive

July 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

GrayScale XRP ETF GETS sec NOD: XRP price prediction and market impact

July 8, 2025

Distribute Crypto Media Release That Get Attention

July 8, 2025

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025
Most Popular

Uniswap (UNI) Labs Collaborates with Kidsuper for Limited Edition Merchandise Collection

August 2, 2024

Analysts say it’s only a matter of time before Ethereum overturns Bitcoin. Here’s why:

May 29, 2024

Dogecoin Price Prediction – DOGE Becomes Attractive to Bears on Rally

January 5, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.