Ethereum whale addresses are steadily rising as ETH price approaches the $1.5K level, as we can see more today in our latest Ethereum news.
After a few months of gradual declines, the number of ETH wallets between 1,000 and 100,000 ETH has reached a new high. At the same time, smaller ETH addresses also increased due to staking for the upcoming merger. Data provided by Santimetn shows that whales holding between 1K and 100K ETH have seen a surge over the past few weeks after crashing in May, halting the negative streak.
🐳 #Ethereum recovered quite well in July, up +29% for the month and only +14% in the past 24 hours. Also there is an increase in key from 1k to 100k $ETH level of addresses since early May when 131 new whale addresses appeared on the network. https://t.co/uGfRQ4dEls pic.twitter.com/ri8MhGIP0o
— Santiment (@santimentfeed) July 17, 2022
There are 131 new such wallets on Sunday, with the total number exceeding 6,666. The trend is similar with smaller ETH investors and those holding a full one hit a new high of 1.5 million. Addresses with 100 pieces or more hit a 15-month high of 45,000. small investor interest can be attributed due to the upcoming merger event and it is perhaps the most anticipated event of the year which will see Ethereum transition from PoW to PoS and bring may -be higher prices.
📈 #Ethereum $ETH The number of addresses containing more than 100 coins just hit a 15-month high of 45,081
The previous 15-month high of 45,069 was seen on July 13, 2022
Show metric:https://t.co/FbjiMG3uFX pic.twitter.com/iMufq6Nzcc
— glassnode alerts (@glassnodealerts) July 18, 2022
The network was slowly preparing to take the plunge and enter the 9e shadow fork which went live last week which was also a step in the right direction. A few days before the shadow fork event, ETH crashed to $1000 and the community feared another drop below that line, but the hype did not allow it. such a dip, and the second largest crypto started. Ethereum whale addresses rise as ETH finally broke $1100, but then continued to climb a few hours ago and approached $1500, which became the new highest level in over a month . This means that the asset has increased by 50% in less than a week.
The increase in ETH prices has affected the total value locked in ETH 2.0, which is around $18 billion or a new monthly high.
📈 #Ethereum $ETH Total value of ETH 2.0 deposit contract just hit 1-month high of $17,957,275,144.37
The previous one-month high of $17,913,399,617.10 was observed on July 17, 2022
Show metric:https://t.co/1ezmu1GKcj pic.twitter.com/FyQ8EMIYyI
— glassnode alerts (@glassnodealerts) July 18, 2022
As reported recently, Ethereum is experiencing a huge rally over the past six days, with the price rising 50% over a one-week period. ETH has strongly outperformed BTC and it is up 25% against it over the same period, as can be seen in the charts. The move came a month after the cryptocurrency was trading in a fairly tight range that broke higher and the phantom ninth fork also came online, putting some of the final steps towards migrating to a PoS network.
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