Ethereum (ETH) whales are increasing their portfolios rapidly amid a surge in the price of the world’s second-largest cryptocurrency. Crypto data provider, Santiment recently highlighted a significant jump in ETH holdings of the world’s top 10 non-exchange Ethereum addresses.
According to Santiment, the top 10 non-exchange ETH addresses are now holding 21.3 million Ethereum, the highest level since 2016. On the other hand, the top 10 exchange addresses are now holding 4.66 million ETH, the lowest level since 2015.
Last week, Ethereum whales accumulated nearly 1.65 million coins. According to Santiment, ETH whales holding between 10,000 and 1 million ETH now own more than 60.5 million coins. ETH investment products attracted a total of $11.7 million worth of investment during the third week of July 2021.
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“Ethereum’s top 10 non-exchange whales are adding on to their holdings, as their 21.3 million ETH held this week established a new 5-year high. Meanwhile, top 10 exchange whales recently hit a low of 4.66 million Ethereum, the lowest since Ethereum’s 2015 inauguration,” Santiment mentioned.
During the first week of July 2021, the deposit contract of Ethereum 2.0 reached 6 million coins. According to the latest data posted by Etherscan, a block explorer and analytics platform for Ethereum, the deposit contract of ETH 2.0 now has more than 6.4 million coins. The total value of the staked coins is now more than $15 billion.
ETH’s Price Action
The overall market cap of digital currencies jumped by more than $150 billion in the last 24 hours. Bitcoin and Ethereum led the latest rally as the world’s top two digital currencies spiked by more than 10% within a single day. After touching a low of nearly $1,700 on 20 July, ETH saw consistent growth over the last six days. Currently, Ethereum is trading above $2,300 with a market cap of over $270 billion. The world’s second-most valuable digital asset is up by more than 25% in the last seven days. Ethereum’s crypto market dominance jumped above 18% on Monday 26 July, which is its highest level in more than 4 weeks.