• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF

Ethereum Bullish Signal: Whales Add $1B More To Their Holdings

Keshav Verma by Keshav Verma
1 year ago
in Ethereum
Reading Time: 2 mins read

On-chain data shows Ethereum whales have added $1 billion more to their holdings recently, something that could be bullish for the crypto’s price.

Ethereum Whales Now Hold 947,940 ETH More In Their Wallets

As per data from the analytics firm Santiment, this jump in the whale holdings is the 5th largest in this year so far.

The relevant indicator here is the “Supply Distribution,” which tells us the percentage of the total Ethereum supply that each wallet group has right now.

Wallets are divided into these groups based on the number of coins they are currently holding. For example, the 1-10 coins group includes all wallets that are storing amounts in this range at the moment.

The Supply Distribution metric for this cohort then measures what percentage of the total supply is made up by the sum of coins in these wallets specifically.

Now, here is a chart that shows the trend in this Ethereum indicator for the 10k-1m coins group over the last twelve months:

Ethereum Whales

Looks like the value of the metric has sharply gone up in recent days | Source: Santiment

The significance of the 10k-1m coins group is that it represents the wallets owned by large Ethereum whales. In the USD, this range corresponds to holdings worth between $10.9 million and $1 billion.

As you can see in the above graph, the Supply Distribution value for this ETH wallet group has shot up recently.

Related Reading: Ethereum Price Plunges, Why ETH Could Soon Dive Below $1,000

This latest spike amounts to an increase of 1.8%, which means these whales have added almost 1 million ETH more to their holdings now. At the current exchange rate, this amount converts to more than $1.1 billion.

In the past year, there have only been four instances where this Ethereum indicator has seen a larger single day increase.

Interestingly, during these past few occurrences where whales added similar amounts to their holdings, ETH vs BTC price chart grew by an average of 3.2% in the days following the pattern formation.

Related Reading: Latest Findings Show Bitcoin Holders Under Fire As Price Continues To Sink

If a similar trend follows this time as well, then the current accumulation from whales may also have a bullish impact on the price of Ethereum in the coming days.

ETH Price

At the time of writing, Ethereum’s price floats around $1.1k, down 4% in the last week. Over the past month, the crypto has lost 13% in value.

Below is a chart that shows the trend in the price of the coin over the last five days.

Ethereum Price Chart

The value of the crypto seems to have plunged down during the last couple of days or so | Source: ETHUSD on TradingView
Featured image from Abigail Lynn on Unsplash.com, charts from TradingView.com, Santiment.net
Tags: ETHethereumEthereum Bullish SignalEthereum Whale HoldingsEthereum Whalesethusd
Tweet123Share196ShareSend
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He completed a bachelor's in physics in 2022. Keshav is enthusiastic about the cryptocurrency industry and holds an active interest in on-chain analysis. His hobbies include gaming, anime, and football.

Related Posts

Ethereum

Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations

18 hours ago
Ethereums Future Will Ethereum Recover?

Ethereums Future: Will Ethereum Recover?

18 hours ago
Ethereum Bitcoin ETHBTC

2 Reasons Why An Ethereum Mega Bull Run Is Inevitable

2 days ago
Ethereum

Ethereum Price Soars To Over $2,300 – Is $3,000 Next?

3 days ago
Ethereum

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

4 days ago
Ethereum bulls

Ethereum At $2,200 Is “Hilarious”; Is A 10X Incoming?

5 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Green Bitcoin Uses Less Energy Than Bitcoin and Others...

    1 day ago
  • The Top 5 Crypto Presales for 100x Returns In 2024

    1 day ago
  • PolySign, Inc. PUBLIC AUCTION NOTICE OF FORECLOSURE SALE

    2 days ago
  • Chimpzee Continues to Flourish In Final Week With $2.5...

    2 days ago
  • Cardano (ADA) sees growth but investors now shifting...

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.