• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Ethereum Whale Shark
Advertisement

Ethereum Sharks Accumulated In Past Year, But Whales Sold: Santiment

Hououin Kyouma by Hououin Kyouma
1 week ago
in Ethereum
0
Advertisement

On-chain data from Santiment shows Ethereum whales were selling during the past year while sharks were buying more of the asset.

Ethereum Sharks Added 3.61 Million ETH To Their Holdings In Past Year

According to data from the on-chain analytics firm Santiment, there has been a substantial shift in the supply held by the large holders in the ETH market recently. The relevant indicator here is the “Supply Distribution,” which tells us what percentage of the Ethereum supply is currently being held by which wallet groups.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

The wallet groups here refer to cohorts divided based on the total number of coins they are holding right now. For example, the 1 to 10 coins group includes all addresses on the network that are carrying a balance amount between 1 and 10 ETH at the moment.

If the Supply Distribution metric is applied to this group, then it will measure (among other things) the combined balance held by the wallets satisfying this condition.

Related Reading: Bitcoin Supply Is Becoming Less Concentrated On Whales With Time, Glassnode Reveals

Now, in the context of the current discussion, the wallet groups of interest are the 10 to 10,000 coins and 10,000 to 10,000,000 coins cohorts. Here is a chart that shows the trend in the Supply Distribution for these Ethereum groups over the past year:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Ethereum Sharks And Whales

The values of the two metrics seem to have gone opposite ways in recent months | Source: CryptoQuant

The range of the first wallet group converts to about $17,300 at the lower end and $17.3 million at the upper bound (both at the current USD price), while the second one’s is worth $17.3 million and $17.3 billion.

These groups correspond to two important cohorts in the Ethereum market called the sharks and whales. As these groups hold such large amounts of coins, their movements can sometimes have noticeable effect on the price (with whales being the more influential of the two, naturally, since they hold significantly higher balances in their wallets).

As displayed in the above graph, the holdings of the sharks have followed a net upwards trajectory during the last year, with an especially sharper uptrend seen following the FTX crash back in November 2022.

In total, this cohort has added 3.61 million ETH or $6.3 billion to their holdings during the past twelve months. There has also been some rapid accumulation from these holders in the last week, where their supply has grown by about 554,000 ETH.

As for the whales, these humongous holders appear to have dumped a net amount of the asset during the past year. In all, these investors have distributed a whopping 9.43 million ETH in this period, which is worth about $16.4 billion at the current exchange rate.

The cohort has also shown more rapid selling in the past week, possibly to take advantage of the current profit-taking opportunity, and has shed their holdings by about 717,000 tokens.

Related Reading: Bitcoin Total Addresses Sees Rapid Growth, Sign Of Adoption?

It seems like the Ethereum market has undergone a shift in how the supply is distributed among the different holder groups, with smaller holders picking up the supply being sold by the larger holders.

However, despite this significant distribution, Ethereum whales still hold about 51.4% of the total ETH supply, while sharks have around 28.8% of the supply in their wallets.

ETH Price

At the time of writing, Ethereum is trading around $1,700, up 33% in the last week.

Ethereum Price Chart

ETH surges up | Source: ETHUSD on TradingView
Featured image from Jake Gaviola on Unsplash.com, charts from TradingView.com, Santiment.net
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Ethereum

Why Ethereum Could See Further Rise After Bitcoin Rally Ends

6 days ago
Ethereum

Ethereum Fee Remains Low Despite Price Rise, Here’s What It Means

1 week ago
Ethereum

Ethereum Price Plummets As Whale Transfers $33 Million ETH To Binance

1 week ago
Grayscale Postpones Date For ETHPoW Review And Sales Decision

Grayscale Postpones Date For ETHPoW Review And Sales Decision

1 week ago
Polygon Ethereum

Ex-Ethereum Foundation Developer Joins Polygon

1 week ago
Ethereum hits record high

Ethereum Deflation Hits Record High Six Months After Merge, What This Means For ETH

2 weeks ago

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Binance Coin (BNB) Price prediction, Experts think RenQ...

    1 hour ago
  • Betnomi Affiliate Program 2023

    3 hours ago
  • Tremendous Growth in TMS Network (TMSN), While...

    4 hours ago
  • TMS Network (TMSN) Unveils Innovative Ideas for the Future...

    4 hours ago
  • TRON (TRX) and Tether (USDT) Fail to Impress Investors, TMS...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.