Data from on-chain analytics firm Santiment suggests that a small number of Ethereum investors have bought up 0.59% of total Ether supply in the last twelve days. The price of Ethereum has fallen to lows below US$4,000 several times since mid-November, giving some “whales” the opportunity to accumulate more pieces of the asset.
As analytics firm Santiment found in an analysis, Ethereum’s large investors, who typically hold between 100,000 and 10 million ETH, have amassed nearly 734,800 ETH in the last 12 days, representing 0.59% of the total ETH supply.
Ethereum‘s mega whale addresses (holding 100k to 10m $ETH) have now accumulated 676k $ETH in just the past 12 days, 1. 28m $ETH in the last 45 days, and 1.46m $ETH in the past 60 days. This is a great sign that key stakeholders maintain confidence. https://t.co/DsjTUdzgpa pic.twitter.com/FqsV8L5Dmw
– Santiment (@santimentfeed) December 1, 2021
Big investors continue to believe in Ethereum
While times of macro consolidation and even price drops tend to throw off small investors, this might not be the case for larger investors, often referred to as “whales”. Indeed, these have always been known to buy up the very crypto coins that small investors dump in times of panic. This is exactly what has now happened with regard to Ethereum.
Santiment also notes that these whales have bought 1.28 million ETH in the last 45 days and 1.46 million ETH in the last 60 days (coinciding with the September decline). Currently, the Ethereum price remains in an uptrend. Ethereum is currently trading at $4,735 and has spent four consecutive days in the green. ETH is only 2.40% away from its all-time high of US$4,867 set on 10 November 2021. The increased investment from big investors is definitely a reason to continue to take a close look at the cryptocurrency and buy Ethereum if necessary.
