Data shows that cryptocurrency whales are rapidly accumulating Ethereum’s ether, the second-largest cryptocurrency by market capitalization, as the price of the cryptocurrency steadily moves up to new highs.
According to crypto analytics firm Santiment, the percentage of Ethereum’s supply owned by crypto whales that have over 10,000 ETH ($18.2 million) in their addresses has been steadily moving up since November 2020 and is now at a level that hadn’t been seen since the 2017 bull market.
As the Daily Hodl reports, Santiment’s data also shows that while large Ethereum holders have been accumulating as much ETH as possible over the last few weeks, it also shows that addresses with less than 10,000 ETH in them have been letting go of their holdings.
