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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Shark & Whale Addresses Up 5.7% Over Past Year: Santiment

Keshav Verma
Keshav Verma
2 years ago
3 mins read
Ethereum

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On-chain data from Santiment shows the Ethereum shark and whale addresses have registered a growth of 5.7% over the past year.

Ethereum Sharks & Whales Numbers Have Gone Up During The Past Year

According to data from the on-chain analytics firm Santiment, there are now around 380 more sharks and whales in the market compared to 12 months ago.

The relevant indicator here is the “ETH Supply Distribution,” which tells us about the total amount of Ethereum that each wallet group in the sector is currently holding. Addresses are divided into these “wallet groups” based on the number of coins that they are carrying in their balances right now.

The 10-100 coins cohort, for instance, includes all wallets that are holding between 10 and 100 ETH at the moment. The Supply Distribution metric for this specific group would measure the sum of the individual balances of all addresses on the network that are satisfying this condition.

Related Reading: Bitcoin Accumulation: HODLers Are Buying 15,000 BTC Per Month

In the context of the current discussion, the investors of interest are those holding at least 1,000 ETH, meaning that the relevant range here would be 1,000 to infinite coins.

Here is a chart that shows the trend in the Ethereum Supply Distribution for such investors over the last couple of years:

Ethereum Sharks And Whales

The value of the metric seems to have been going up in recent days | Source: Santiment on Twitter

This wallet range of at least 1,000 ETH (worth about $1.9 million at the current exchange rate) includes two very important cohorts for Ethereum: the sharks and whales.

These investors can be quite influential in the market as they hold such large amounts in their wallets (with the whales naturally being more powerful than the sharks since they are the larger of the two. Because of this reason, their behavior may provide hints about where the market may be headed in the long term.

As displayed in the above graph, the Supply Distribution for the 1,000+ ETH range had a value of 6,712 a year ago. Since then, the indicator has enjoyed an overall uptrend and its value has risen to 7,092 today.

This implies that 380 new addresses belonging to sharks and whales have come up on the network during the last year, representing an increase of about 5.7%.

Ethereum saw a decline during most of the past year as the bear market tightly gripped the cryptocurrency. Overall, the asset is still down 35% in this period, meaning that these humongous holders have been buying while the value of the asset has been relatively low.

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From the chart, it’s visible that the most significant buying spree in this period came just following the collapse of the cryptocurrency exchange FTX. This suggests that the sharks and whales saw the lows following this crash as a profitable buying opportunity.

And indeed, their accumulation there looks to have paid off so far, as those lows now appear to be the lowest point for this bear market. These holders have also continued to buy a net amount in the current rally so far, meaning that they are supportive of the price surge. Naturally, this can be a positive sign for bullish momentum in the long term.

ETH Price

At the time of writing, Ethereum is trading around $1,900, down 1% in the last week.

Ethereum Price Chart

Looks like the asset's value has seen some volatility recently | Source: ETHUSD on TradingView
Featured image from Bastian Riccardi on Unsplash.com, charts from TradingView.com, Santiment.net
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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