During the last 30 percent drop in prices in early September, at least 68 Ethereum whales joined the network.
68 new ETH whales
Data from Santiment’s analysts show that the number of investors with between 1,000 and 10,000 ether (ETH) – $ 350,000-3.5 million at the time of writing – has increased by 68 in three days. The increase in whales comes after a 30.2% decline from 367 to a monthly low of $ 326.
– Ali Martinez (@satoshilatino) September 6, 2020
The rapidly growing DeFi market since June has been driving both demand for ETH and rising gas costs – reaching around Gwei 485 on September 1 – with an increasing number of daily transactions. Currently, after the drops, the average gas fee is only 98 Gwei. Ethereum continues to be the second largest cryptocurrency by market capitalization.
Did the whales sense the falls?
According to another piece of information published by Sentiment, some of the whales may have sensed the recent falls. About 100 of the largest stock exchange addresses ETH, as cryptocurrency hit its newest peak, began to sell out their resources.
$ ETH‘S top 100 exchange addresses have decreased their tokens held from 16.92M to 15.89M over the past week, a significant decrease of -6.1% in these online bags. From a short-term perspective, this was almost certainly a sparkplug to the -22.3% dump. 🐳🔻 https://t.co/eZcvHimKGx pic.twitter.com/fGwE8Cywnu
– Santiment (@santimentfeed) September 6, 2020
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