Ethereum Whales Hold 68% of the Total ETH Supply

Ethereum, the world’s second-largest cryptocurrency, saw a rebound today as ETH crossed $1,750 for the first time in 2 weeks. Ethereum addresses with at least 10,000 ETH now hold nearly 68% of the total supply.

According to the latest data published by crypto analytic firm, Santiment, Ethereum whales are now holding the highest percentage of ETH supply since November 2017. On the other hand, ETH addresses holding 10-10K Ethereum have reached the lowest level since September 2017.

The price of Ethereum is on the rise since the start of 2021. The world’s second-largest crypto asset is now up more than 120% in the last 8 weeks. ETH registered an all-time high of $2,030 on 20 February. As of writing, ETH is trading above $1,740 with a total market cap of nearly $200 billion.

The recent price surge has escalated unknown Ethereum transactions as well. Whale Alert, a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term tracker and analytics platform, reported an anonymous transaction today involving 68,000 ETH worth more than $110 million to an unidentified ETH wallet.

Despite some challenges, ETH is gaining popularity among retail and institutional investors. Amazon recently announced the general availability of Ethereum on its managed blockchain service.

Ethereum 2.0

Ethereum’s network upgrade started in December 2020 with the launch of Beacon Chain. In a recent report, Grayscale pointed out some potential benefits of Ethereum 2.0, including network efficiency and lower transaction fees. Institutional adoption is playing a major role in the surge of ETH whale addresses. Santiment data shows that since the start of this year, there has been a significant jump in addresses holding at least 10,000 ETH. Grayscale, the world’s largest crypto asset manager, bought 138,361 ETH worth more than $240 million in the last 30 days. The asset manager now has more than 3.17 million ETH under management with a total value of nearly $5.5 billion.

Ethereum remained the best performing digital asset among the top 5 Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as ETH jumped more than 21% in the last 7 days.