The Ethereum (ETH) whales, taking advantage of the decline in the value of the asset, continued to buy and hit an all-time high.
While some traders panicked after the recent crash, Ethereum whales continued to buy large amounts of ETH. As a result, the number of ETH holders of more than 10 thousand tokens reached an all-time high. However, Ethereum also showed strong gains against Bitcoin (BTC).
Ethereum Keeps Buying Whales
The second largest cryptocurrency entered the new year for just over $ 700. Due to the heavy use of the Ethereum blockchain in DeFi and NFT, and the impressive bull run in the entire market, the asset is on the rise.
This rise led to the $ 2,500 level on April 16, 2021. The asset, which managed to increase by 250% in less than four months, fell to $ 1,950 after the crash on Sunday.
According to data from analyst firm Santiment, while some of the retail traders were disposing of their cryptocurrencies, others continued to wait. In response, Ethereum whales started a buying spree. Santiment stated that the number of these accounts holding at least 10 thousand ETH has increased rapidly since the beginning of the year. After the last decline, Ethereum whales reached a record high.
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