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 <p>Blockchain analytics platform Santiment says that crypto whales are accumulating massive amounts of Ethereum (ETH).</p>
 <p>Santiment says that addresses holding at least one million ETH have accumulated more than 32% of the total supply, the most since 2016.</p>
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 <p>The firm also says big ETH transactions are heating up.</p>
 <p><em>“Ethereum’s whale addresses in the billionaire tier (holding at least one million ETH) now hold 32.3% of the available supply for the first time since 2016. Yesterday’s transactions valued at $1 million-plus also had its second-highest day in five weeks. History is being made.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8q9gWUawAAZh8Z?format=jpg&amp;name=4096x4096" alt="Image" width="2715" height="1763">
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   Source: Santiment/X
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 <p>ETH is trading for $1,572 at time of writing.</p>
 <p>Santiment also noticed that stablecoin activity picked up&nbsp;Monday after a news site falsely claimed the U.S. Securities and Exchange Commission (SEC) approved a spot market Bitcoin (BTC) exchange-traded fund (ETF).</p>
 <p><em>“Tether’s largest wallets had big accumulation spikes during yesterday’s crypto fireworks. The top 10 largest wallets are back to holding a quarter of the entire USDT supply, and the top stablecoin’s on-chain transaction volume hit a two-month high.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8qg1JPbQAAwzbX?format=jpg&amp;name=medium" alt="Image" width="1200" height="780">
  <figcaption class="wp-caption-text">
   Source: Santiment/X
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 <p>Lastly, Santiment said that altcoins used for tipping users on Reddit plummeted in value after the social media platform announced it was&nbsp;ending&nbsp;the three-year-old blockchain-based Community Points program.</p>
 <p><em>“Reddit’s community is expressing disdain toward its CEO [Steve Huffman, known as “u/spez” on Reddit] and the choice to sunset community points [and] toward MOON, BRICK, DONUT, and others commonly earned through insight contributions and peer tipping. Moon plummeted as much as -89.9% in bout three hours.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" loading="lazy" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F8rdESmbsAAH8gK?format=jpg&amp;name=4096x4096" alt="Image" width="2803" height="1821">
  <figcaption class="wp-caption-text">
   Source: Santiment/X
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 </figure>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/whales-holding-at-least-1-572-000-000-in-ethereum-now-own-nearly-33-of-total-eth-supply-says-santiment-tbt66960.html">https://thebittimes.com/whales-holding-at-least-1-572-000-000-in-ethereum-now-own-nearly-33-of-total-eth-supply-says-santiment-tbt66960.html</a></p>

Whales Holding at Least $1,572,000,000 in Ethereum Now Own Nearly 33% of Total ETH Supply, Says Santiment

TheBitTimes

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