Long Ethereum Holders Accumulate ETH

Ethereum looks amazing today with the second coin in terms of the market cap being priced at above $3,000 at the moment of writing this article. Bitcoin is also trading in the green.

It’s been just revealed that the long-term holders of Ethereum (ETH) have been accumulating the popular altcoin to the tune of billions of dollars over the past several weeks, according to market intelligence firm IntoTheBlock.

In a new report, the crypto insights company explained that investors that long-term Ethereum holders sprung to action earlier this year and bought up over four million Ether worth $12.60 billion in a matter of weeks.

“Addresses holding Ether for over a year grew their positions by over four million ETH within weeks as prices plummeted in late January. This has led to their holdings reaching yearly highs, although it has been dropping in the last few days.”

Analyzing Bitcoin, IntoTheBlock reveals the BTC investor cohort that grew the fastest over the last month.

“Over the past 30 days, the number of addresses holding between 1,000 and 10,000 Bitcoin has grown faster than any other.”

The same notes reveal the following:

“Given the spike on February 28, many pointed to these addresses possibly belonging to Russians given their economic sanctions in light of the Ukrainian invasion. There is no proof behind these rumors thus far.”

The crypto market looks great today after the recent price surge that Bitcoin and ETH saw. At the moment of writing this article, both BTC and ETH are trading in the green.

BTC is trading at $47k and ETH is priced at $3,308. Check out the latest price predictions for the two coins below.

A popular crypto analyst and trader is mapping out what’s next for Bitcoin (BTC) and Ethereum (ETH). Stay tuned for more news.