The biggest Ethereum whales across the globe are accumulating ETH, according to blockchain analytics firm Santiment.
Santiment says the largest Ethereum wallets that are not owned by crypto exchanges are holding a total of 21.3 million ETH this week, shattering a five-year high. At time of writing, the supply held by Ethereum mega whales is worth about $48.9 billion.
Meanwhile, the top 10 exchange whales are only holding 4.66 million ETH, worth about $10.69 billion, the lowest total since Ethereum’s 2015 launch.
Ethereum is trading at $2,295 at time of writing and is up nearly 30% on the week, according to CoinGecko.
The bullish price action has lifted the ETH community’s sentiment on social media, according to Santiment.
“What does a sudden mid-summer jump above $2,400 do to the ETH bulls on Twitter? According to our data, it appears to have brought them out of the woodwork. Ethereum is showing its most positive sentiment right now since mid-May.”
Looking at Bitcoin, the blockchain analytics firm notes that the “millionaire tier” whales have been accumulating BTC at a rapid rate.
“Bitcoin whales holding between 100 and 10,000 BTC continue accumulating since the May plummet that shook out many weak hands. These addresses have now accumulated 130,000 more BTC in the past 5 weeks, and 40,000 more in just the past 10 days.”
Bitcoin is trading at $40,011.86 at time of writing and is up nearly 34% in the past week, according to CoinGecko.
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