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Ethereum Wallets with 100K+ Coins Hold 43.7% of Total ETH Supply, Here’s What It Means for Market

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Fri, 08/13/2021 - 10:16
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Yuri Molchan
Large Ethereum whales have increased their ETH holdings, now owning 43.7% of the total ETH supply
Ethereum Wallets with 100K+ Coins Hold 43.7% of Total ETH Supply, Here’s What It Means for Market
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Data shared by Santiment analytics vendor shows that large ETH whales, whose wallets contain more than 100,000 ETH, have largely increased their ETH holdings over the past three years.

Now, these monsters hold almost half of the total Ethereum supply.

Meanwhile, as Ethereum options open interest has hit the $4 billion level (its highest level since May), according to data provided by Bybt, it may signify that the crypto market is getting overheated.

100K ETH whales' riches grow eight percent

According to the recent Santiment tweet, Ethereum whales continue to accumulate the second-largest cryptocurrency.

Compared to three years ago, wallets that hold more than 100,000 Ether have grown their crypto contents by 7.9 percent. After owning 35.8 percent of the entire circulating ETH supply back then, they now hold 43.7 percent of ETH.

On Aug. 11, 2018, Ethereum was trading at $322 per coin. Today, the native crypto of Vitalik Buterin's blockchain platform is changing hands in the $3,200 area. Earlier this year, on May 12, it reached a new all-time high of $4,362.

Related
New Ethereum ETF Proposal Seeking SEC's Approval

"Millionaire tier" whales hold 39.2 percent of ETH supply

Previously, U.Today reported that "millionaire tier" whales (with 1,000 to 100,000 coins in their wallets) had been accumulating Ether. Therefore, by now, they hold 39.2 percent of the total Ether supply.

That was covered before the London hardfork, when ETH reached a peak of $2,691.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.