Data from on-chain analytics firm Santiment shows that Ethereum mega whales have purchased 0.59% of the total supply of the leading altcoin Ethereum (ETH) in the past 12 days.
Ethereum whales collect altcoins on dips
Ethereum’s price has dropped below $4,000 at various times since mid-November, allowing some whales to accumulate more of the asset.
As summarized by analytics company Santiment, Ethereum’s mega-whale addresses, typically considered to have 100,000 to 10 million ETH holdings, have accumulated around 734,800 ETH in the past 12 days, representing 0.59% of ETH’s total supply.
While periods of macro consolidation and even price drops tend to shake some weak hands, the situation may not be the same for large holder addresses called whales. It is known that small investors always sweep away the cryptocurrencies they empty during panic periods.
Santiment also states that these whales have purchased 1.28 million ETH in the last 45 days and 1.46 million ETH in the last 60 days (corresponding to the September drop). cryptocoin.com As we reported, the leading altcoin price remains on an upward trajectory. At the time of writing, Ethereum is trading at $4,700, marking four consecutive days in the green. ETH is currently only 2.40% off its all-time high of $4,867 on November 10.
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