🧐Ethereum whales hold 57.35% of the total supply. Is this an opportunity or a challenge?
According to data released by Santiment, Ethereum big players (i.e. whale wallet addresses) who hold at least 100,000 ETH currently control 57.35% of the total supply of Ethereum, and the value of these holdings is about 333 billion US dollars. These 104 super large wallets show that Ethereum's big players are more and more confident in the market. Even if the market is up and down, they are still buying and buying.
At the same time, the market share of medium investors (holding 100 to 100,000 Ethereum) has fallen to a historical low, accounting for only 33.46%. The market share of small players (holding less than 100 Ethereum) has also dropped to the lowest level in nearly four years, only 9.19%. The above situation may reflect that big players have strong confidence in the long-term prospects of Ethereum.
Although the market always has ups and downs, for a nine-year-old currency like Ethereum, the continuous inflow of institutional funds and historical market trends show that Ethereum still has a lot of room for growth. At the same time, the increase in holdings by these big players usually indicates that they are optimistic about the long-term trend.
As the price of Ethereum hit a new high, the year-to-date increase is close to 80%. Although the price has fallen back from $4,106 on Monday to the current $3,864, compared with the historical high of $4,868 in November 2021, experts believe that Ethereum still has great potential for growth.
According to CoinShares' weekly data, Ethereum's investment products have attracted capital inflows for seven consecutive weeks, totaling $3.7 billion. In particular, last week, $1 billion came in at once, which shows that institutional investors are still very interested in and confident in Ethereum.
🗣️ Conclusion:
Ethereum has risen nearly 80% since the beginning of the year, coupled with the active increase in holdings by whales, the continued inflow of institutional funds, and the new growth points of DeFi and NFT, all of which show significant benefits.
However, the high proportion of whales also has the risk of potential price manipulation, and investors need to carefully weigh them to make wise investment decisions.
💬What do you think of Ethereum's performance in the future? What kind of market trend is hidden behind this?
