Santiment: Crypto Whales Are Quietly Hoarding Ethereum

Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

Crypto data platform Santiment shows that big players are quietly hoarding ethereum amid a surge in the price of the second-largest cryptocurrency by market capitalization, ethereum.

Santiment data shows that the number of addresses with more than 10,000 ETH has increased over the past two months, while the number of addresses with less than 10,000 ETH has decreased over the same time period.

“With Ethereum surpassing $750 for the first time in 31 months, we see 39 Ethereum addresses holding 10,000+ ETH compared to 2 months ago. Meanwhile, the number of addresses holding 1-10,000 ETH is here correspondingly decreased over time.”

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Source: Santiment

Santiment’s chart also shows that the number of addresses holding 1 – 100 ETH plummeted on Dec. 19. The cryptocurrency data firm noted that issues related to decentralized finance (DeFi) may have triggered the sharp drop.

“We were also surprised by the large drop in this group from two weeks ago. Given how large the drop has been, it’s likely DeFi related.”

With the number of small ETH holders plummeting, cryptocurrency trader Alex Saunders said the signal bodes well for the future of the leading smart contract platform.