Ethereum Whales Accumulate Over $690,000,000 in ETH in Just Two Days, According to Crypto Analytics Firm

Ethereum Whales Accumulate Over $690,000,000 in ETH in Just Two Days, According to Crypto Analytics Firm

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Crypto analytics platform Santiment says that Ethereum (ETH) whales and sharks have been gobbling up the leading smart contract platform at a fast pace over the last two days.

New data from the market intelligence platform reveals that Ethereum holders who own between 100 and 1 million ETH added 561,000 Ether worth about $690 million between December 5th and 6th.

The top altcoin is changing hands for $1,287 at time of writing, a 5% increase during the last 24 hours. According to Santiment, Ethereum whales and sharks now own over 65% of the existing ETH supply.

“Whales and sharks are adding more Ethereum while prices fluctuate around $1,230. The key shark and whale addresses (holding 100 to 1 million ETH) own two-thirds of the coin’s overall supply, adding 2.1% more collective coins to their bags in the past month.”

Source: Santiment/Twitter

Acknowledging the high volatility oracle providing network Chainlink (LINK) has experienced over the past month, Santiment says it can be attributed to the excitement preceding the launch of the blockchain’s staking feature.

According to Santiment, the price of Chainlink initially rose due to the anticipation of the staking protocol, but fell as demand weakened as its launch drew nearer.

“Chainlink has climbed to $9.35 and fallen to $5.59 in the past month alone. The wide price ranges have been spurred on by LINK staking hype and now live launch, half of the community pool filling, and supply on exchanges falling.”

Source: Santiment/Twitter

Chainlink is trading at $6.88 at time of writing, a 3.6% rise in the last day.

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Featured Image: Shutterstock/abstractmanx

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