Ethereum

Blockchain data analytics firm <a href="https://santiment.net/" rel="noopener noreferrer nofollow">Santiment</a> has sounded the alarm on the <a href="https://www.coinlive.com/coin/ethereum" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) landscape, revealing a pronounced surge in accumulation by crypto whales.Notably, these large-scale holders, with addresses owning at least one million ETH, have now tightened their grip, controlling over <a href="https://app.santiment.net/charts?settings&#61;%7B%22slug%22%3A%22ethereum%22%2C%22ticker%22%3A%22ETH%22%2C%22from%22%3A%222023-07-17T07%3A00%3A01.644Z%22%2C%22to%22%3A%222023-10-18T06%3A59%3A59.644Z%22%7D&amp;widgets&#61;%5B%7B%22widget%22%3A%22HolderDistributionCombinedBalanceWidget%22%2C%22wm%22%3A%5B%22%5B3%3Bpercent_of_holders_distribution_combined_balance%3B1M_to_10M%3B10M_to_100M%3B100M_to_1B%3B1B_to_inf%5D%22%2C%22whale_transaction_count_1m_usd_to_inf%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%2C2%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%235275FF%22%2C%22%237a2020%22%2C%22%23858585%22%5D%2C%22ws%22%3A%7B%220%22%3A%7B%22node%22%3A%22area%22%2C%22interval%22%3A%221d%22%7D%2C%221%22%3A%7B%22interval%22%3A%221d%22%7D%2C%222%22%3A%7B%22interval%22%3A%2212h%22%2C%22node%22%3A%22candle%22%7D%7D%7D%5D" rel="noopener noreferrer nofollow">32% of the total ETH supply</a>. It&#39;s a level not witnessed since 2016, raising questions about the concentration of wealth within the Ethereum ecosystem.<blockquote>— Santiment (&#64;santimentfeed) <a href="https://twitter.com/santimentfeed/status/1714391656135573722?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2023</a>&#x1f40b; <a href="https://twitter.com/hashtag/Ethereum?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a>&#39;s whale addresses in the <a href="https://twitter.com/hashtag/billionaire?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#billionaire</a> tier (holding at least 1M <a href="https://twitter.com/search?q&#61;%24ETH&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>) now hold 32.3% of the available supply for the first time since 2016. Yesterday&#39;s transactions valued at $1M&#43; also had its 2nd highest day in 5 weeks. History is being made. <a href="https://t.co/sywdtn14k5" rel="noopener noreferrer nofollow">https://t.co/sywdtn14k5</a> <a href="https://t.co/SdbSrChJCf" rel="noopener noreferrer nofollow">pic.twitter.com/SdbSrChJCf</a></blockquote>Billionaire-Tier AddressesWithin this realm, a particular focus is on billionaire-tier addresses, defined by those boasting a minimum of one million ETH. These elite holders currently possess 32.3% of the available ETH supply, marking a significant milestone, last seen in the early days of Ethereum.Furthermore, this select group is facilitating a flurry of substantial transactions, with daily volumes surpassing $1 million achieving their second-highest peak in the past five weeks.ETH is trading for $1,616 at time of writing.This stable valuation is amidst the backdrop of increased concentration in the hands of Ethereum&#39;s largest stakeholders, bringing an element of intrigue to the overall market dynamics.Market ImplicationsIn a crypto landscape marked by accumulating wealth, these developments raise a compelling question:What are the potential ramifications of such a significant amount of Ethereum controlled by a select few?As Ethereum&#39;s distribution becomes increasingly polarised, it prompts reflection on the implications for the broader ecosystem and the dynamics of wealth and influence within it.

Whales now hold nearly 33% of Total ETH Supply

Coinlive

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