Topic: Ethereum Whales Holding More ETH - page 3. (Read 497 times)
It is a logical move by whales, and it can be seen in almost every market - buying strategic asset when price hits (or nears) the bottom. They know that ETH has a bright future and only buy with discount.
Ethereum Whales Holding More ETH
Using metrics provided by TokenAnalyst, Diar determined that whale Ethereum holdings have been increasing steadily throughout 2018 despite the extended bear market. Holdings of the top 500 whales are equivalent to 20 million ETH, slightly less than 20 percent of the total circulating supply and equaling approximately $2.3 billion.
The whales have increased their relative holdings by 80 percent since the beginning of the year, with speculation that ICO projects are exiting their native token positions as the primary driver. Analysis by both TokenAnalyst and BitMEX Research confirms that many ICOs have exited their positions, with the majority of projects selling as much ETH as they raised in USD.
As the market decline continues and Ethereum’s current price sitting at ~ $110, increasing downward pressure on ICO project runways is likely. Total whale addresses have also dropped by 30 percent since the beginning of the year. Despite this, active whales seem to be consolidating their positions as Q4 is shaping up at a 270 percent increase in net balance growth compared to Q3. An important qualifier is that 90 percent of the total $1 billion in net balance additions of 2018 came in Q1, at the height of the ICO frenzy.
https://driveinsider.com/analyzing-eth-whale-holdings/?fbclid=IwAR3Zns1fPPJtXqzYgukaPCHYwNJQDEnPwy3ONwrGdmsE0oLHZk9LSyFvt_I
Using metrics provided by TokenAnalyst, Diar determined that whale Ethereum holdings have been increasing steadily throughout 2018 despite the extended bear market. Holdings of the top 500 whales are equivalent to 20 million ETH, slightly less than 20 percent of the total circulating supply and equaling approximately $2.3 billion.
The whales have increased their relative holdings by 80 percent since the beginning of the year, with speculation that ICO projects are exiting their native token positions as the primary driver. Analysis by both TokenAnalyst and BitMEX Research confirms that many ICOs have exited their positions, with the majority of projects selling as much ETH as they raised in USD.
As the market decline continues and Ethereum’s current price sitting at ~ $110, increasing downward pressure on ICO project runways is likely. Total whale addresses have also dropped by 30 percent since the beginning of the year. Despite this, active whales seem to be consolidating their positions as Q4 is shaping up at a 270 percent increase in net balance growth compared to Q3. An important qualifier is that 90 percent of the total $1 billion in net balance additions of 2018 came in Q1, at the height of the ICO frenzy.
https://driveinsider.com/analyzing-eth-whale-holdings/?fbclid=IwAR3Zns1fPPJtXqzYgukaPCHYwNJQDEnPwy3ONwrGdmsE0oLHZk9LSyFvt_I
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