January 13, 2022

Whales Hunt Ethereum Dumping (ETH), Collect Up To More Than RM358 Billion!

 Crypto exchange platforms and whales are ‘scrambling’ to gather Ethereum (ETH) to invite a decline in the supply of such assets in the current market.


Data from Santiment revealed the amount of ETH owned by whales was higher, reaching an all -time high (ATH) when compared to the balance on most crypto platforms.


📈 The amount of #Ethereum held by the top 10 NON-EXCHANGE whale addresses has now ballooned to 25.7 $ ETH held. Meanwhile, the top 10 EXCHANGE whale addresses continue falling, with only 3.57 $ ETH. This ratio is the highest since the asset's inception. https://t.co/32hoGTpBlA pic.twitter.com/uce1O2EsbO


- Santiment (@santimentfeed) January 10, 2022


"The number of Ethereum owned by whales (based on 10 major non-exchange wallets) increased to 25.7 million ETH. Meanwhile, the top 10 crypto exchanges recorded a decline in ownership of only 3.57 million ETH. ”



This means that the cumulative total ownership of ETH for non -exchange whales is worth $ 86,300 billion (RM358.6 billion), based on the current price per unit of ether.


The ownership also explains the exchange now has a 14% lower supply of ETH than non -exchange whales.


For information, non-exchange refers to crypto trading that does not involve intermediaries (crypto exchanges).


Meanwhile, observations of the overall attention on social media indicate small investors are reluctant to enter the market.


At the time of writing, the crypto market is witnessing a positive movement. Bitcoin (BTC) started to record a jump of over 2% in 24 hours, trading at $ 43,577. Ethereum, meanwhile, recorded a value of $ 3,335, up more than 3%.