Crypto analytics platform Santiment says that sharks have amassed a whopping $6.13 billion worth of Ethereum (ETH) in the past year.
However, the market intelligence firm says that the whales have dumped much of their ETH holdings over the same period of time.
ETH sharks collected 3.61 million ETH coins last year, but whales landed more than twice that amount, according to Santiment.
“Large Ethereum addresses have substantially changed their supply. Addresses holding between 10 and 10,000 ETH collectively added 3.61 million coins last year. Meanwhile, addresses with 10,000-10,000,000 ETH have collectively returned 9.43 million in the same time period.”
Ethereum is trading at $1,699 at the time of writing.
holyday too says that crypto discussions are dominated by the banking crisis, including how Credit Suisse said it would borrow up to $54 billion from the Swiss National Bank to stay afloat.
“In the midst of Credit Suisse securing a vital $54 billion loan, the crypto forums are paying close attention to the various banking crises that are taking place. Laws and policies in the future can have a dramatic impact on the trajectory of cryptocurrencies.”
market intelligence firm grades that the use of Bitcoin (BTC) is experiencing strong growth despite the banking crisis and volatility in the markets.
“The growth rate of the Bitcoin network is thriving right now, even with the unpredictable volatility in the crypto markets right now. In the last two months, the total number of BTC addresses has grown by 1.71 million, an increase of 3.95% in a relatively short period.”
Bitcoin is worth $24,958 at the time of writing.
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