Top Whales Accumulate $40,000,000,000 in Ethereum

It’s just been revealed that important whales in the crypto space are accumulating a lot of cash in ETH. Check out the latest reports about this below.

The largest Ethereum (ETH) whales have been quietly gobbling up ETH in 2023, according to the crypto analytics firm Santiment.

Santiment made sure to note the fact that at one point this past weekend, the top 10 largest non-exchange ETH addresses surpassed collective holdings of more than 25 million Ethereum for the first time since 2016.

“Very quietly, Ethereum broke a 7-year record over the weekend. Not since 2016 have the top 10 non-exchange addresses alone collectively held over 25 million ETH. Expect to see some critics come out of the woodwork to complain about ETH centralization on this one.”

The firm also says that the number of large whale addresses has been declining, with only 124 addresses holding 100,000 or more ETH currently, compared to a high of 176 in July 2019.

Ethereum is worth $1,624 at time of writing. The second-ranked crypto asset by market cap is up nearly 1% in the past 24 hours and nearly 2.5% in the past seven days.

It’s been just revealed that the native token of a decentralized finance (DeFi) protocol surged by more than 50% on Monday as one crypto whale pounced on the asset.

TrueFi (TRU), a DeFi protocol that supports uncollateralized lending, shot up from trading around $0.0692 on Monday to a high of $0.1039 later in the day.

“The Ethereum (ETH)-based DeFi altcoin has since retraced to around $0.0841 at time of writing, though it remains up 19% in the past 24 hours,” according to the latest reports from the Daily Hodl.

The same report reveals the fact that the blockchain-tracking firm Lookonchain notes that a whale bought 7.32M TRU worth about $500,000 from top crypto exchange Binance.

Stay tuned for more news and make sure to check out the latest on crypto.