With the price drop in Ethereum (ETH) in recent days, the number of Ethereum whales has increased by 68.
The decline in the cryptocurrency markets last week may have enabled investors to buy more cryptocurrencies they believe will come. At least for Ethereum with an increase in the number of whales, this seems to be the case because the number of ETH whales has increased by 68 in the last 3 days.
According to the data shared by Santiment; With the last decline, the number of accounts holding between 1000 and 10 thousand Ether increased by 68. Therefore, the number of addresses that currently hold Ethereum with 348 thousand dollars to 3 million 480 thousand dollars has increased by 68.
The striking point is that these 68 addresses have joined the network in the last 3 days. Ethereum price dropped to 326 dollars on Saturday, which means that the price, which was 367 dollars on the last day of August, has decreased by 30 percent since that day.
Santiment’s tweet on the subject also included the following statements:
“The distribution chart of @ santimentfeed’s coins shows that the Ethereum price has fallen, while the number of addresses, also known as whales, holding millions of dollars of ETH has increased. Approximately 68 new whales, holding between 1,000 and 10,000 ETH in the last 3 days, have joined the network.
The reason for the increase in the number of whales holding ETH despite the price decrease is DeFi, the industry that has attracted great attention in the last period, namely decentralized finance. As is known, this system works on the Ethereum network. In addition, Ethere also hangs on many DeFi protocols, creating high demand for cryptocurrencies.
Some whales predicted Ether decline
In another report by Santiment, he stated that whales may have foreseen the decline in Ethereum. Nearly 100 largest ETH bora addresses sold “not succumbing to greed” when the second largest cryptocurrency hit the recent high.
According to Santiment, these addresses reduced the number they hold from 16.92 million last week to 15.89 million.