Ethereum Whales Increase Holdings, Potentially Influencing Price Trend

Share on Facebook Share on Twitter

Ethereum’s Future: Whales Making Waves

The so-called “whales”, or large investors, have increased their influence on the entire Ethereum supply over the past six months. According to current reports, Ethereum whales currently hold around 38% of the total supply. Over the course of the year, Ethereum whales have continuously made strategic moves, leading to a significant increase in their holdings.

Ethereum Whales Accumulate More Supply

According to IntoTheBlock, the proportion of Ethereum supply held by large investors has increased over the year. The data showed growth from 32% in January to about 35%. Further investigation of the whale holdings on Santiment also showed an increase. Initial observations of the chart showed a clear upward trend in recent months. In August, the share of whale holdings was about 34%, but at the time of writing, it was over 38%.

Ethereum: Supply on Exchanges Continues to Decline

The Ethereum supply on exchanges has shown minimal fluctuations recently. However, it has shown a significant decline over the past six months. The chart analysis showed a decrease of almost 1 million units between August and today. At the time of writing, the exchange supply was about 10.51 million. When connecting the trends in the exchange supply and the holdings of Ethereum whales, one could conclude that accumulation by large investors has influenced the total supply. The reduction in supply on exchanges suggests a decrease in liquidity, which could have a positive impact on the price trend.

Ethereum Uptrend Comes to a Standstill

The examination of the daily price trend of Ethereum showed a continuous accumulation by whales at various price levels. Prior to this recent report, the chart showed a continuous increase in the ETH value over the past six days. The upward trends led to a value increase of around 11%. At the time of writing, however, there was a slight decrease of almost 2%. Despite the decline, it was able to maintain a stable price of around $2,200. It is noteworthy that if the proportion of the supply held by these whales begins to shrink, this could signify capitulation. This is an important consideration as a significant release of volume onto the exchanges could negatively impact the price trend.

Sources: IntoTheBlock, Santiment, TradingView

Share on Facebook Share on Twitter

The 3 best cryptocasinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update by Isabella Brown (iGaming expert for > 10 years) on 1. March 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Last update: 1. March 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update by Isabella Brown (Nerd of Numbers) on 1. March 2024
Curaçao
Licence

Latest News

🍪
We use cookies. By using this site, you accept them.