Economic uncertainty has definitely risen in the cryptocurrency market as of late. Assets like Bitcoin and Ethereum are down 2.45% and 8.5% in the week, respectively. And yet, recent reports show that cryptocurrency whales — investors managing large sums of money — are stockpiling Ether.
A recent post from famous crypto influencer ‘Ash Crypto’, the number of investors holding from 1,000 to 10,000 ETH has seen a recent spike. According to the post, the amount of investors stockpiling Ether in recent weeks has seen its fastest rise since 2017.
Unfortunately, Ash Crypto doesn’t substantiate his claims with more tangible evidence. So let’s have a look at CoinMetrics data regarding the sum of unique addresses holding $100,000 worth of ETH, or more.
This data shows that the number of investors holding at least $100K worth of Ether has seen a decent spike in recent months. Since April 21st, that number has grown by 51.69% to 93,000 addresses, reflecting a considerable growth in whale activity.
Meanwhile, unique addresses holding at least $10 million worth of ETH also spiked, up by 40% since that same April 21st.
Ethereum is currently trading at $2,514, somewhat breaking even from yesterday’s price. Recently, we reported how staking activity has spiked to its ATH in the Ethereum ecosystem, reflecting a possible alternative for stable returns amid market volatility.
Trading on BloFin just got a whole lot more interesting. Yes, you read that right: hit the right volume and you could walk away with a MacBook, Apple Vision Pro, or even a $9,400 Rolex. The higher your volume, the bigger the flex.
