The biggest whales on the Ethereum network currently hold an all-time high of $241.635 billion in ETH, according to the newest on-chain data.
According to crypto analytics firm Santiment, the 100 largest non-exchange Ethereum whales hold a record high of 68.39 million ETH tokens, while exchange wallets have declined.
“The top 100 Ethereum wallets on exchanges recently fell below its May 2018 all-time low, now at 8.41 million total ETH. This is a sign of increasing distribution over time.
Meanwhile, the top 100 non-exchange wallets tell the opposite story, holding an all-time high 68.39 million ETH.”
At time of writing, Ethereum is trading for $3,566.
Looking at Bitcoin (BTC), the firm says sentiment has become uncertain for the largest crypto asset by market cap. The analytics firm shares a chart suggesting that frequent mentions on social media of “selling” or “taking profit” often coincide with price bottoms or the beginning of rallies.
With BTC still in a downtrend and sentiment relatively low, an opportunity to accumulate the crypto king may be coming into view, according to the firm.
“The crowd is showing fear after Bitcoin has fallen to $65,000, its lowest market value since May 16th. Spikes in mentions of ‘selling’ or ‘taking profit’ are common after a drop, and a temporary bounce and buy opportunity may form if we see continued FUD (fear uncertainty and doubt) and panic from small traders.”
At time of writing, BTC is trading for $66,235.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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