Ethereum whale wallets hold 39.2% of all ETH coins in circulation. This is the highest figure since mid-May.
According to the Crypto Insight platform, Ethereum whale addresses that hold 1,000 to 100,000 ETH currently contain 39.2% of all ETH supply. This is the highest level accumulated by whales since May 12. The data shows that Ethereum whales returned to accumulate ETHs after several weeks of stagnation.
According to the analytical company Santiment, large and small investors again switched to actively buying ETH coins, which provoked an increase in the ETH rate to a monthly maximum of $2,691. According to Santiment, the wallets of the 10 largest Ethereum whales (excluding exchange addresses) contained 21.3 million ETH. This is the maximum value over the past five years.
🐳 #Ethereum has made it to a high of $2,691 for the first time since June 7th. The near 2-month high comes as the percent of $ETH held by the whale ‘Millionaire Tier’ just reached a high of 39.2%. This is their largest supply portion owned since May 12th. https://t.co/7pXMQn1lT0 pic.twitter.com/ro790oGuuG
— Santiment (@santimentfeed) August 2, 2021
On the contrary, the 10 largest exchange wallets contain only 4.66 million ETH, the lowest figure since 2015. According to DeFiPulse, around 2.6 million ETH are locked on Ethereum-based decentralized exchanges. Thus, investors not only actively buy ETH coins, but also prefer to store them in their personal wallets, rather than send them to exchanges for trading.
Investor activity predates the London hard fork scheduled for August 4. It contains five proposals for improving Ethereum, among which is the EIP, which introduces a deflationary function to the network, designed to reduce the supply of ETH coins over time. The rollout of this EIP is expected to drive the price of ETH up.