• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • 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
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • 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
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Ethereum

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

Hououin Kyouma by Hououin Kyouma
1 month ago
in Ethereum
Reading Time: 3 mins read

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.

Related Reading: Bitcoin Flash Crash Triggered By Bogus Data? Here’s What Happened

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
Tags: ETHethereumEthereum SharksEthereum WhalesethusdSantiment
Tweet123Share196ShareSend
Hououin Kyouma

Hououin Kyouma

Kyouma is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Kyouma has been writing for many years, first as a hobbyist and later as a freelancer. He obtained a bachelor's in physics in 2022 and is planning on starting a master's in the same field in the near future. Kyouma is enthusiastic about the cryptocurrency industry and holds an active interest in on-chain analysis. His hobbies include gaming, anime, and football. You can find Kyouma on Twitter at @Kyouma29.

Related Posts

Ethereum

Ethereum Correction: Key Level Break Can Shift Price Course

1 day ago
Ethereum (ETH) Block Size Surges

Ethereum’s Block Size Surges To 1-Month High – What This Means For ETH

1 day ago
Ethereum

Ethereum Encounters Resistance At Critical Level, Vital Trading Levels to Monitor

5 days ago
Ethereum (ETH) staking

Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH

6 days ago
Ethereum

Ethereum (ETH) Beacon Chain Shatters Records With $7.7 Billion Inflows

1 week ago
Ethereum

Role Reversal: Ethereum Defies Expectations With Lower Volatility Than Bitcoin

1 week ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Why Big Eyes Coin Is One Of The Best P2e Projects For...

    56 mins ago
  • Best P2E Project Of Summer 2023: Big Eyes Coin Casino’s...

    1 hour ago
  • The Tokenomics of DogeMiyagi, Solana, and Polkadot...

    1 hour ago
  • Bware Labs Launches $INFRA Token, making high API...

    13 hours ago
  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    16 hours 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

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • 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
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 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.