Ether Sharks & Whales Swell: 380 More Wallets Holding 1K+ ETH!

• Ether wallet addresses holding over 1k coins have surged in the past year
• On-chain data released by Santiment shows an increase in ether addresses holding at least 1,000 ETH
• The price of ether (ETH) has posted a 7.5% increase in the last 30 days

Ether Wallet Addresses with Over 1K Coins Surge

The total number of addresses that hold at least 1,000 Ethereum (ETH) coins has increased significantly during the past year, indicating that investors are actively taking advantage of cryptocurrency’s prolonged bear market to accumulate more ETH. This is according to on-chain data released by Santiment, a leading blockchain analytics platform.

Whale and Shark Increase

Santiment’s on-chain data indicates that the total number of Ethereum addresses holding at least 1,000 ETH (sharks and whales) has grown by 380 since last year – a 5.7% surge. Although initial fears were raised about how staking Ether from the beacon chain could negatively affect the price of ETH, it has actually risen by 7.5% over the last 30 days. At present time its trading for $1,906.76 with a 24-hour trading volume of $14,021,032,644 and a market cap of $229,730,695,835 according to CoinGecko.

Vitalik Buterin’s Ethereum Upgrade

Earlier this month Vitalik Buterin’s Ethereum underwent its transition to proof-of-stake (PoS) consensus mechanism through the Shanghai upgrade which enabled validators to withdraw staked Ether (ETH). Despite initial concerns that this would lead to massive price drops for ETH it appears as though investors have taken advantage of this dip instead – accumulating more tokens while prices are still low.

Renewed Confidence in Ethereum Linked Investment Products

Investors have also demonstrated renewed confidence in products linked with Ethereum such as various derivatives contracts including futures and options listed on major exchanges like CME Group Inc., Bakkt LLC., Intercontinental Exchange Inc., LedgerX LLC., and Deribit BV.. This suggests that traders remain confident that these digital assets will continue their growth trajectory despite current market conditions.

Conclusion

Overall it appears as though investors are taking full advantage of Ethereum’s recent dip in prices and capitalizing on opportunities to accumulate more tokens while they can – increasing whale and shark holdings significantly since last year even despite ongoing crypto winter conditions worldwide