Cryptomustar
Monday, May 23, 2022
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptomustar
No Result
View All Result
Home Ethereum

On-Chain Data Shows Mass Accumulation Among Ethereum Investors

by admin
October 20, 2020
in Ethereum
0
On-Chain Data Shows Mass Accumulation Among Ethereum Investors
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter



  • Ethereum has gained a few percent since the lows of last week.
  • The coin currently trades for $380 but peaked earlier today at $385.
  • This price action has been underscored by reports that mass Ethereum accumulation has been taking place.
  • Leading crypto analytics firm Santiment reports that ETH is leaving exchange wallets en-masse, suggesting accumulation and long-term confidence.
  • The firm recently wrote: “ETH’s top 10 whale exchange addresses have continued swapping their funds to non-exchange wallets, & moving holdings at an impressive rate.”
  • This may be related to institutional investment.
  • According to Barry Silbert, CEO of Digital Currency Group, Grayscale Investment’s Ethereum Trust has accumulated 2% of all ETH in circulation
  • The fundamentals of Ethereum are also strong as ETH 2.0 nears.

Ethereum Accumulation Spikes Ahead of 2.0 Launch

Santiment blockchain data indicates that there is a spirit of accumulation amongst Ethereum holders and investors. The blockchain analytics company recently reported that the count of ETH held on exchanges has dropped in the past two months, suggesting investors are long-term confident about ETH:

“$ETH’s top 10 whale exchange addresses have continued swapping their funds to non-exchange wallets, & moving holdings at an impressive rate. The 20.5% decrease in tokens on exchanges the past 2 months indicates price confidence by top #Ethereum holders.”

Chart of ETH's price action over the past few months with an overlay of the number of top 10 exchange holdings vs. non-exchange holdings.
Chart from Santiment, a blockchain analytics firm.

Much of this accumulation seems to be related to institutional players.

According to Barry Silbert, CEO of Digital Currency Group, Grayscale Investment’s Ethereum Trust has accumulated 2% of all ETH in circulation:

“While everybody has been focused on our bitcoin accumulation, the @GrayscaleEthereum Trust now holds over 2% of all ETH in circulation.”

Head of DTC Capital Spencer Noon previously commented that institutions that want access to DeFi are first routing capital through Ethereum:

“My read on #DeFi after speaking with instl investors, fund mgrs, OTC desks, and FOs over the last few wks: The herd is coming. They’re excited about DeFi but new to it, so they’re buying $ETH first.”

Long-Term Fundamentals of ETH Strong

The fundamentals of ETH are stronger than ever as this accumulation picks up.

Heath Tarbert, the chairman of the U.S. Commodities and Futures Trading Commission (CFTC), recently said that he has been “impressed with Ethereum, period, full stop.”

He said that the cryptocurrency is much more like the Internet if Bitcoin was to be likened to email.

Photo by 戸山 神奈 on Unsplash
Price tags: ethusd, ethbtc, eth
Charts from TradingView.com
On-Chain Data Shows Mass Accumulation Among Ethereum Investors





Source link

RELATED POSTS

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance

Tags: AccumulationAmongDataEthereumInvestorsMassOnchainshows
ShareTweetShare

Related Posts

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

by admin
May 22, 2022
0

The recent crypto market crisis has not only hurt investors, but also notable entrepreneurs, erasing billions of dollars from...

Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance

Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance

by admin
May 21, 2022
0

Binance, the world’s largest cryptocurrency exchange by volume, announced on Friday that it had integrated the layer-2 scaling solution...

Terra Flaw: Ethereum Creator And Binance CEO Slam Terra Via Twitter

Terra Flaw: Ethereum Creator And Binance CEO Slam Terra Via Twitter

by admin
May 17, 2022
0

Terra took quite a beating as the Ethereum creator and CEO of Binance criticized Terra and UST token via...

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

by admin
May 15, 2022
0

Prince Charles spoke on behalf of the Queen of England (citing health reasons) at the House of Lords last...

Terra TVL Crumbles More Than $14 Billion

Terra TVL Crumbles More Than $14 Billion

by admin
May 13, 2022
0

Terra’s total value locked suffered a major fall, losing as much as $14 billion because of a reduced DeFi...

POPULAR NEWS

4 Cryptocurrency that Blow Bitcoin Out of the Water

4 Cryptocurrency that Blow Bitcoin Out of the Water

September 25, 2020
Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

July 1, 2021
Apollo CBDC: The CBDC Platform that can Power Economies

Apollo CBDC: The CBDC Platform that can Power Economies

October 6, 2020
Stratus: The Most Feature Rich Social Media Network

Stratus: The Most Feature Rich Social Media Network

September 9, 2020
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

February 19, 2021

EDITOR'S PICK

Polygon to Delegate $189M Worth of MATIC to Bitfinex for Staking

Polygon to Delegate $189M Worth of MATIC to Bitfinex for Staking

January 19, 2022
DeFi Startup Earnity Raises $15M Led by Miner BitNile

DeFi Startup Earnity Raises $15M Led by Miner BitNile

December 6, 2021
BitPay Merchants to Get a Boost From Lightning Network Payment Integration

BitPay Merchants to Get a Boost From Lightning Network Payment Integration

April 6, 2022
The Long Strange Journey of Facebook’s Libra Project

How November Bear Market-Proofed the Crypto Industry

December 2, 2021

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Capitrade Ventures Sets To Assist Early Blockchain Projects
  • Fantom Maker Announces the Closing of Its $1.8m Private Rounds Led by Dao Maker and Halvings Capital
  • Cardano IDO LaunchPad “Coollaunch” Records a buzzing progress as it Sells Out 0ver 11% Of $COOL Tokens Within Days
  • BabyMusk Coin Launches, As It Aims To Be The Next Big MEME Coin
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptomustar.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptomustar.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439784-6.92%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122949-3.85%