• bitcoinBitcoin$70,284.00-0.33%
  • ethereumEthereum$3,554.92-0.47%
  • elrond-erd-2MultiversX$60.64-0.55%

The Number of Ethereum Whales Holding 10,000+ ETH Has Increased

The number of ETH whales that own over 10,000 ETH has increased in 30 days by 32. It is also worth noting that this is a 13-month high for the total number of whales in this category. Of course, the quantity of ETH found in exchanges continues to drop, reaching a 14-month low as a result of accumulation by investors.

Bloqport was the company to first report this:

“The number of addresses holding 10,000 ETH just reached a 13-month high. Over the past 30 days, 32 new whale addresses were created. ETH balance on exchanges has also just hit a 14-month low, dropping 16% over the past 30 days”.

ETH Continues to Stay Strong at $1,200

The whales have started to rack up ETH as there is potential for big gains later this year. Ethereum continues to be traded at around the $1,200 mark, while the support for Bitcoin has weakened as we’ve reached the end of the week.

This means that ETH’s hurdles for a new ATH are two-fold. First of all, BTC will have to provide the right environment for Ethereum to prosper. This will be possible if BTC keeps a value that exceeds $28k during this week’s weekly close.

Second of all, both Bitcoin and Ethereum have a lot of futures and options that will expire this Friday, the 29th of January. Crypto traders know that these expirations often go hand in hand with extreme volatility, which means ETH could reach lower support zones as January comes to an end.

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