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Crypto Whales accumulating Ethereum – CRYPT TREND

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Crypto whales don’t stop just acquiring Bitcoin. Based on monitoring of his latest transactions, everything seems to indicate that large cryptocurrency investors are also accumulating Ethereum (ETH) at an accelerated rate.

Adam Cochran, executive at privacy-focused search engine DuckDuckGo, says he manually audited the top 10,000 Ethereum addresses. What Coochran was looking for was to examine whale activity, liquidity profitability and market manipulation of the second largest crypto asset.

Cochran said that existing whales have increased their Ethereum portfolio by more than $ 550 million, or 4%, in the past six months. In comparison, Bitcoin earned an estimated inflow of $ 600 million of new capital, throughout the past year.

Are only crypto whales accumulating Ethereum?

According to the DuckDuckGo executive, not exactly. According to Cochran, there are a significant number of new wallets that Ethereum acquired in its first transaction.

He even estimated that these new addresses often bought $ 100,000 – $ 250,000 on Ethereum. These represent around 6% of the top 10,000 addresses.

Combining new whale possessions with existing whales, we would have a total purchase of over $ 650 million on Ethereum. This only in the last 6 months. Thus, it is confirmed that it was more than the total inflow of new capital in Bitcoin throughout 2019.

What do they do with all this amount of Ethers?

According to the Adam Cochran report, the data indicates that these large investors do not seem interested in selling their ETH stakes, but rather in accumulating them.

“Right now, there are only 19.5 million ETHs listed on the exchanges for sale. Despite the fact that 33.6 million ETH are deposited on exchanges. That is only 58% of the deposits, so the whales are accumulating, not selling ”Cochran says.

Crypto whales have accumulated large amounts of ETH, Ethereum’s cryptocurrency, in recent months according to data from Adam Cochran. Source: CryptoTrend

conclusion

Since March, there has been talk of a strong accumulation of ETH by crypto whales. However, at that time, this accumulation was followed by a mass sale to try to make profits in the face of market uncertainty and short-term future forecasts.

Currently, instead, crypto whales could be piling up Ethers with the expectation that the price will rise.

If we add to this that the Grayscale Ethereum Trust bought approximately 48% of all mined ETH tokens in 2020, we will see that this coin is becoming somewhat popular these days.

However, this may not be so attractive to many, considering that the Ethereum 2.0 project is still brewing, and although the whales show a tendency to accumulate, perhaps the rest of the market does not.



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