Whales Holding at Least $1,572,000,000 in Ethereum Now Own Nearly 33% of Total ETH Supply, Says Santiment

MARKET_WATCH Crypto

Blockchain analytics platform Santiment says that crypto whales are accumulating massive amounts of Ethereum (ETH). Santiment says that addresses holding at least one million ETH have accumulated more than 32% of the total supply, the most since 2016. 

 

The firm also says big ETH transactions are heating up. “Ethereum’s whale addresses in the billionaire tier (holding at least one million ETH) now hold 32.3% of the available supply for the first time since 2016. Yesterday’s transactions valued at $1 million-plus also had its second-highest day in five weeks. 

 

History is being made.” Source: Santiment/X ETH is trading for $1,572 at time of writing. Santiment also noticed that stablecoin activity picked up Monday after a news site falsely claimed the U.S. Securities and Exchange Commission (SEC) approved a spot market Bitcoin (BTC) exchange-traded fund (ETF). 

 

“Tether’s largest wallets had big accumulation spikes during yesterday’s crypto fireworks. The top 10 largest wallets are back to holding a quarter of the entire USDT supply, and the top stablecoin’s on-chain transaction volume hit a two-month high.” 

 

Lastly, Santiment said that altcoins used for tipping users on Reddit plummeted in value after the social media platform announced it was ending the three-year-old blockchain-based Community Points program. “Reddit’s community is expressing disdain toward its CEO [Steve Huffman, known as “u/spez” on Reddit] and the choice to sunset community points [and] toward MOON, BRICK, DONUT, and others commonly earned through insight contributions and peer tipping. Moon plummeted as much as -89.9% in bout three hours.” 

 

Source : The Daily Hodl by Daily Hodl Staff / October 19, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.