A new study conducted by Santiment suggests that the number of Eth whales has soared to its record levels since the first month of this year. Plus, the number of investors with more than ten thousand Ethereum has also reached its peak by now. The study further points out that after Sunday’s twenty percent fall of Bitcoin, it also triggered the altcoins towards a downward trend.
Meanwhile, whales have been benefiting from it and buying them during the dip. For REN and BAND protocol as well as Ethereum, the number of whale addresses has skyrocketed. But on the other hand, such huge-sized wallets for LTC, CEL, and STORJ.
Glassnode, a prominent digital assets analysis platform, confirmed that the number of ETH wallets with more than 10,000 had touched the high figure of 1,162 – a massive milestone.
— glassnode alerts (@glassnodealerts) April 20, 2021
Yet, the past week has not been good for Ethereum. Following its rally to $2,547, it went into the red. Experts suggest that the negative trend was prompted by BTC’s sudden fall after the Bitcoin hash rate fell and issues with miners in China. Yet, two days ago, its deposit contract soared to a record high of 862,626 ETH.