Ethereum whales’ holdings hit new ATH as price slips further
Ethereum’s (ETH) price has struggled to keep up over the past two months as the global crypto market cap plunged by roughly $150 billion. As the price dropped, the top 10 non-exchange ETH addresses’ holdings touched a new all-time high (ATH).
According to data from the market intelligence platform Santiment, the top 10 ethereum whales hold roughly $59.47 billion worth of ether — 31.8 million ETH. This move comes as more users move into “self-custody and DeFi options,” per Santiment.
Moreover, as the whales advance, data shows that only 7.29 million coins stay inside the top exchange addresses, worth around $13.65 billion at the time of writing.
The whale moves come as ether drops further. The second-largest cryptocurrency is down by 1.48% in the past 24 hours.
Ethereum is trading at around $1,870 at the time of writing. It has declined by 1.4% over the past month and has witnessed a 0.78% fall in the last 60 days.
On the other hand, ethereum’s 24-hour trading volume has skyrocketed despite the uncertain market conditions. It has risen by 44% and currently standing at $4.7 billion.
Last month, the US Securities and Exchange Commission (SEC) announced that ETH would be accepted for penalty payments. It’s important to note that the SEC still classifies ethereum as a security.
