While the majority of assets in the cryptocurrency sector have returned to where they were before the rally triggered by fake news regarding spot Bitcoin exchange-traded fund (ETF) approval. Ethereum Whales were tipped off by this fake news and went into savings mode.
Billionaire Ethereum whale addresses, i.e. cryptocurrency wallets with at least 1 million ETH, now hold 32.27% of the available ETH supply for the first time in seven years, according to on-chain data compiled by Santiment.
Whale addresses with more than 1 million ETH now own nearly a third of the entire Ethereum supply for the first time since July 2016. At the same time, whale transactions exceeding $1 million in ETH had the second highest day in the last five weeks on October 16, with approximately 520 transfers occurring.
Ethereum has recorded another significant growth, with the number of wallets with balances exceeding 100 million, according to the latest data from blockchain analysis platform IntoTheBlock.
Artificial intelligence (AI) algorithms used at CoinCodex predict that the price of Ethereum may rise as high as $1,624.54 (up 3.58%) next month.
On top of that, the algorithm’s forecast for the next three months is for a rise to $3,002.68, which would represent a 91.45% increase over its current price, and within six months to $3,967.14 (a 152.95% growth). waiting for it to happen.
