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ETH billionaire whales hit new all-time high holdings after adding 3.5 million coins since Sep. 11<\/p>\n<\/div>\n<\/div>\n
Ethereum (ETH) whale investors have continued to accumulate the second-largest cryptocurrency by market cap. Data from Santiment<\/u><\/a> shows that since Sept. 11, Ethereum whale addresses that hold one million or more ETH have collectively added 3.5 million more coins.\u00a0\u00a0<\/p>\n The addition marks an increase of 14% to the ETH holdings of the billionaire whales during the period since the Merge<\/u><\/a>. It also pushes the cumulative holdings of 132 or so wallets that fall in this cohort to an all-time high balance of 28.55 million ETH \u2014 worth approximately $36 billion at the time of writing.\u00a0<\/p>\n 🐳 Since September 11th, #Ethereum<\/a> billionaire whale addresses holding 1M or more $ETH<\/a> have collectively added 3.5M more coins. This has increased their cumulative bags by +14%. There are currently 132 such addresses in existence. https:\/\/t.co\/iek4uXbJjV<\/a> pic.twitter.com\/dlCdDkO0Bm<\/a><\/p>\n \u2014 Santiment (@santimentfeed) October 19, 2022<\/a><\/p><\/blockquote>\n In contrast, ETH sharks and whales \u2014 the cohort of investors below billionaire whales that hold between 100 and 1 million ETH tokens \u2014 have been selling off their ETH holdings according to previous Santiment data.<\/u><\/a> Notably, the redistribution trend started<\/u><\/a> shortly after the Ethereum blockchain’s migration to using a proof-of-stake consensus mechanism according to previous<\/p>\n Despite the telling whale activity and new blockchain dynamics introduced by the Merge, the price of ETH has continued to trade largely in the red. ETH is down about 6.21% in the last month, according to data from CoinMarketCap<\/u><\/a>. On the day, the token is changing hands at around $1,270, down 1.9%, at the time of writing.\u00a0<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n However, analysts looking on the bright side have noted that the price of ETH would receive a boost when whales currently redistributing return to active accumulation. Similarly, they have opined<\/u><\/a> that bullish signals persist in the network’s performance in fee generation which is at a one-month-high.<\/p>\n<\/div>\n\n
ETH market continues to be dominated by bearish sentiments<\/h2>\n
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