Data from the cryptocurrency analysis platform IntoTheBlock indicates that Ethereum (ETH) is currently held by a small group of large investors, who collectively possess approximately 43% of all existing ETH in circulation, following another round of buying activity.
According to the company’s observation, there’s been a significant rise in the whale’s ownership of the token’s total supply since early 2023. Initially, they held just 22%.
According to IntoTheBlock, it’s believed that this increase might be linked to the Ethereum upgrade (the merge) and the chance to stake Ether.
Approximately 210,100 individual Ethereum addresses have been depositing ETH into the staking contract, marking an 8.60% increase in unique contributors over the last day.
The cumulative amount of ETH tokens sent to staking stands at 55.96 million.
Ethereum is eyeing $3,500
Currently, as per information from CoinGecko, the value of Ethereum (ETH) is nearing the $3,500 level.
Over the last day, the primary alternative cryptocurrency has seen a rise of approximately 2%, mirroring the climb of other significant altcoins.
Bitcoin, the top cryptocurrency by market cap, surged to as high as $105,079 earlier today.
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2025-01-17 21:25