bt-crow.com
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Analyst firm Santiment noted that whales are accumulating huge volumes of Ethereum (ETH), while the supply of this asset is rapidly dwindling on cryptocurrency exchanges.
According to the company, the ratio of ETH held by whales (outside of crypto exchanges) compared to stocks on exchanges has grown to an all-time high:
“The volume of ETH OTC addresses in the top 10 has increased to 25.7 million coins. Meanwhile, the ETH reserves of the top 10 exchange addresses continue to decline, with only 3.57 million coins at their disposal. This ratio is the highest since the birth of Ethereum “
Given the current ETH rate, over-the-counter whale addresses hold more than $ 80 billion in assets, while exchanges only have $ 11.5 billion worth of assets, that is, only 14% compared to the stocks of ETH whales.
In addition, Santiment noted a decrease in the number of large transactions (worth more than $ 100,000) on the Bitcoin and Ethereum blockchains:
“Large transactions involving whales are not as frequent as in October or November. According to our information, in the Bitcoin network there are about 13,000 transactions per day worth more than $ 100,000, while in the Ethereum network there are about 9,000 transactions per day “
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