According to recently published analytics data, biggest ETH wallets now hold almost 40 percent of the total Ethereum offering, driving the price back close to $2,700
Popular analytics vendor Santiment has tweeted that top-tier whales have become more active in buying Ethereum recently.
Their massive purchases of ETH pushed the coin’s price back to the $2,691 level on Sunday.
Biggest crypto whales now own 39.2 percent of Ethereum supply
An analytics chart shared by the Santiment data agency shows that the largest crypto whales (those on the “millionaire tier” level) now own 39.2 percent of the total supply of the second-biggest crypto, Ethereum.
The company emphasizes that this is the largest portion of the ETH supply owned in almost three months—since May 12.
These “millionaire tier” wallets hold from 1,000 to 100,000 ETH each.
🐳 #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
Ethereum reclaims $2.691 ahead of London hardfork
The second most popular crypto has been rising on the anticipation of the London hardfork. The latter will take place in just a few days, on Aug. 4, at block 12,965,000.
This major and long-anticipated ETH upgrade will be a crucial part of the Ethereum transition to the proof of stake (PoS) algorithm and the dumping of the proof of work (PoW) one used by multiple cryptos, including Bitcoin, Litecoin and Dogecoin.
Besides, Ethereum has just turned six; the blockchain’s Genesis block was rolled out on July 30, 2015.