CoinGapeNews

Ethereum (ETH) Mega Whales Now Hold 68% of Total Supply, ETH Funds Secure Big Investments

Ethereum price has registered a strong rebound today surging 6.5% and moving past $1650 levels. The recent surge comes as Ethereum finds a strong support at $1500 before resuming its upwards journey. As per the Ethereum technical chart, it has formed an inverse head-and-shoulder pattern and is currently eyes its next move to $2000 and above.

#ethereum inverse head and shoulders break out, price getting ready to head back to $2,000! pic.twitter.com/Fne04ZGQWj
— Lark Davis (@TheCryptoLark) March 7, 2021

As the Ethereum (ETH) price rebounds to $1700 levels for the first time in 10 days, the Ethereum mega whales are turning more dominant. As per the latest Santiment report, the Ethereum mega whales with over 10+ ETH whale addresses currently hold a massive 68.6% of the total supply.

As #Ethereum rebounded above $1,685 today for the first time in 10 days, whales (owning 10k+ $ETH) now own 68.6% of the total supply. This is the highest % owned by whales since Nov, 2017. 10-10k addresses meanwhile, own the lowest % since Sep, 2017. https://t.co/Tjdyk43Hgl pic.twitter.com/A8X9pADOGm
— Santiment (@santimentfeed) March 7, 2021

This is for the first time since November 2017 that the whales are holding this high percentage of the ETH supply. On the other hand, addresses holding 10-10K ETH coins are lowest in percentage since September 2017.
Ethereum Funds by Galaxy Digital Secures $32 Million In Investments
Ethereum continues to gain wider acceptance among institutional players. As per the SEC  filings recently, the Ethereum funds launched by Mike Novogratz’s Galaxy Digital has secured $32.1 million in investments in a …
Story continues on CoinGape

Related posts
CoinGapeNews

Breaking: Binance Under Investigation by CFTC

Binance crypto exchange is reportedly under investigation by the US regulatory authorities from CFTC over the trading activities of the US customers. Early reports suggest that the authorities are trying to investigate whether the world’s largest crypto exchange allows US…
AltcoinsAnalysisNewsNews 1SocialTrading View

Litecoin Price Analysis: 12 March

The altcoin market has been surging over the past couple of days owing to the Bitcoin rally. With a market capitalization of $13.92 billion, Litecoin [LTC] was also trading at a high price of $208. ThThe post Litecoin Story continues…
BitcoinBTC Trading ViewNewsNews 1SocialTrading View

What's in store for Bitcoin's price this weekend?

Bitcoin’s price is moving towards its ATH level of $58330 and as the price rises, the leverage on derivatives exchanges continues to build-up. For the first time ever, Bitcoin futures open interest haThe post What’s in store for Bitcoin’s price…