On-chain tracking platform centimentcontinues his research on the crypto market. Santiment, the 2nd largest cryptocurrency by market capitalization in the past hours to Ethereum (ETH) released new on-chain data on
on-chain According to data, Ethereum whales have accumulated massive amounts of ETH tokens in about 40 days. Investors carrying more than 1 million ETH in their wallets have added 3,500,000 ETH worth $4.5 billion to their accounts since the Merge update.
“Investors holding more than 1 million Ethereum added a total of 3.5 million ETH to their wallets as of September 11.”
With the new purchases, the amount of ETH in the hands of whales increased by 14%. According to Santiment, the number of addresses holding more than 1 million ETH is only 132.
While the biggest players in the market are expanding their wallets, whales with smaller portfolios are selling. Medium whales have similarly sold 3.5 million ETH tokens in the last 40 days.
Ethereum Merge After the update, the number of users on the network continues to increase steadily. Mega-large players have continued their purchases since the update, while smaller whales are taking a sell position.
This table supports the criticisms that the Ethereum network has become more centralized with Merge in recent days. Major exchanges and pools dominate over 40% of the PoS system.
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