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In accordance with the recently released analytics data by Santiment, ETH whales have collected more coins, and Ethereum has surged to the $3,357 mark again. Santiment, a team of on-chain data vendors, reported that in the past 15 weeks, Ethereum whales have added a huge amount of ETH to their holdings.
Ethereum Surges Significantly as Largest ETH Wallets Accumulate
The price of Ethereum has recaptured the $3,500 range on the charts as unnamed wallets have shifted around $1 billion worth of Ethereum recently.
Santiment revealed that Ethereum has managed to touch the level of $3,537 again, and the top ten largest Ethereum wallets that belong to whales have shown a notable rise in the amount of Ether that they hold.
As reported, the amount of Ethereum stored in these cold wallets has increased to a 51-month peak. These addresses now hold around 21% of the total circulating supply of Ethereum.
This is the largest amount of Ethereum the giants have been holding since the month of May of the year 2017.
The popular blockchain sleuth, Whale Alert, has shared reports that crypto whales have relocated a whopping one billion USD in Ethereum in the past 24 hours.
Data Revealed by the Crypto Tracker
The crypto tracker noticed the execution of a total of six transactions consisting of between 15,000 ETH to a total of between 33,000 ETH and 92,742 ETH each. Also, it should be noted that the funds were moved to or from different crypto exchanges such as Gemini, Binance, and Coinbase. However, as Whale Alert revealed, the majority of the movement of Ethereum took place between the anonymous wallets of crypto whales.
This move can prove to be a positive sign for the holders of Ethereum and regardless of the uncertainty in the crypto market at present, some reaction is expected from the market.