Whales aren’t shook

Nicholas Scalf -

While crypto has been in free fall, whales have been on a buying spree, now holding more than 20% of all Ethereum---the last time it was this concentrated was back in 2017.  10% of those coins were bought since the crash down from ETH’s recent all time high.

Even hungry whales couldn’t save the market though, as Ethereum is down 21% in the past month.  ETH has blow past previous support levels down under $1,800.

With proof of staking coming soon, and news that Ethereum settled $2.5 Trillion on chain in Q2 of 2021, whales seem satisfied with where it's going, and even happier with where it's at.

TLDR:

  • Ethereum settled $2.5 Trillion in Q2 of 2021
  • Whales own >20% of ETH
  • ETH down 21% in the past month
  • Currently, ETH is under $1800(!)