As ETH Market Sentiment Changes, Top 100 Ethereum Holders Are Increasing Their Stake
Since the Ethereum (ETH) price has been consolidating in the last 2 weeks, the top 100 ETH holders have had their accumulation of ETH coins increasing, says the on-chain metric provider Santiment.
Per a Santiment’s report, the first 100 Ether wallet addresses has accumulated higher percentages of the entire ETH supply in spite of the market’s current conditions. Such accumulations indicate the token has an undervalued price at the moment.
The top 100 holders of #Ethereum are once again beginning to accumulate higher percentages of the total token supply, in spite of the ongoing consolidation that has been occurring for the past couple of weeks. Generally, when this kind of accumulation starts to mount, it's a pic.twitter.com/Rr5C8vuE97
— Santiment (@santimentfeed) March 4, 2020
17% of the Entire ETH Supply Held by 10 Exchanges
More data discovered by TokenAnalyst indicates that 10 of the largest crypto exchanges are at the moment holding a percentage of 16.8 of the ETH total supply, which is 18.5 million ETH valued at about $4.2 billion. These exchanges are Binance, Huobi, Gemini, Poloniex, Kucoin, OKEx, Kraken, Bitstamp, Bitfinex and Bittrex, with Huobi dominating, as it holds 4.75 million ETH. After Huobi, Binance, Bitfinex and Kraken hold 2.78 million ETH, 2.58 million ETH, and respectively 2.5 million ETH.
Ethereum 2.0 to Be Launched
Ethereum enthusiasts are waiting for the Ethereum 2.0 implementation so that very important issues like scalability, security and speed of the Ethereum network get to be addressed. While it’s still uncertain if the new updates are going to have a positive impact on the ETH price, the coin was valued 50% more, following the live testnet from last year.
When it comes to the current price of the coin, it can be said ETH doesn’t get to be left behind, since other crypto markets are also gathering momentum for a positive trend. For now, ETH trades safely at over $230, on the green side of the market and at a 3% price gain per day. The most recent price analysis of the coin shows ETH grown steadily from $220. In spite of this, it can’t be expected a short-term bullish trend until the price goes over $240. On March 5, the valuation of ETH had a rise from $224.49 to $233.68.