Data shared by analytics company Santiment indicates that since January this year, the number of ETH whales has surged to a new historical level by now.
Besides, the amount of users owning wallets with over 10,000 ETH has reached a new all-time high.
Number of ETH whales shows a steep rise
According to Santiment, after Bitcoin plummeted on Sunday from the $60,000 level to the $51,000 area, losing almost twenty percent, and thus also pushed altcoins in the red, whales have been buying some of them on the dip.
The charts shared by the company demonstrate that the amount of whale addresses (e.g. holding from 10,000 to 10,000,000,000 coins) have surged for Ethereum (ETH), Ren Protocol (REN) and Band Protocol (BAND).
As for Celcius (CEL), Litecoin (LTC) and Storj (STORJ), the number of whale-sized wallets for these altcoins has declined.
Wallets with 10,000+ ETH soar in number
According to another popular crypto analytics platform, Glassnode, the amount of addresses on which owners hold more than 10,000 ETH coins has soared to reach a new all-time high of 1,162.
Ethereum plunges from the $2,500 ATH
Over the past week, Ethereum has been in decline. After reaching a new all-time high of $2,547 on April 16, it pivoted and began going down.
The downside movement was spurred by Bitcoin’s nearly twenty percent plunge on Sunday after an issue with Chinese miners and the sudden massive fall in the BTC hash rate.
At the time of writing, the second largest cryptocurrency by market cap is changing hands at $2,192.
Meanwhile, on Saturday, April 17, the total value of ETH staked in the Ethereum 2.0 deposit contract spiked to a new all-time high of $ 9,529,098,342 (that’s a fiat equivalent of 3,862,626 ETH).