Ethereum

Merge

<p><strong>Ethereum whales, defined as addresses holding at least 1 million ETH, now hold 32.3% of the total ETH supply <a href="https://x.com/santimentfeed/status/1714391656135573722?s=20" target="_blank" rel="noopener noreferrer nofollow">according</a> to data from on-chain analytics firm Santiment. This is the highest percentage these mega-whales have held since 2016.</strong></p>
<p>With ETH trading around $1,565 at the time of this report, these billionaire tier addresses hold a combined $50+ billion worth of Ethereum. The increasing accumulation by whales suggests strong confidence in Ethereum’s long-term outlook despite recent price volatility.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="665" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-1024x665.png" alt="" class="wp-image-357854" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-1024x665.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-300x195.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-767x498.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-1536x997.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-2048x1330.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-231x150.png 231w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-539x350.png 539w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-437-788x511.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>The last time Ethereum whale holdings reached similar levels was in 2016, right before ETH staged a massive bull run throughout 2017. After trading under $10 in 2016, Ethereum prices skyrocketed to highs of $1,400 by early 2018 – a 14,000%+ increase!</p>
<p>Whales accumulating ETH is a bullish sign for the asset’s future price appreciation based on historical trends. In addition to whale accumulation, Santiment also noted that transactions valued at $1 million or higher had their second highest day in 5 weeks on Monday. Large individual transfers often precede major price moves as wealthy investors rebalance their portfolios.</p>
<p>The on-chain data paints a picture of renewed interest in Ethereum from large investors. With the Merge completed in September transitioning ETH to a proof-of-stake consensus model, positive technical developments alongside bullish whale behavior could signal the start of Ethereum’s next price growth cycle.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ethereum-whales-accumulating-at-record-levels-hints-at-potential-bull-run-like-2017/">Ethereum Whales Accumulating at Record Levels – Hints at Potential Bull Run Like 2017</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ethereum Whales Accumulating at Record Levels – Hints at Potential Bull Run Like 2017

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