Ethereum Whales Are Accumulating ETH Amid Crypto Dip, According to Analytics Firm Santiment

A major blockchain analytics company has revealed that Ethereum (ETH) whales are skyrocketing major smart contract platforms amid the ongoing decline in ETH value.

According to Santiment, despite the significant devaluation of Ethereum last month, addresses with a balance of 100-100,000 ETH have been accumulated since June 7.

“Ethereum shark and whale addresses (holding 100 to 100,000 ETH) have added 1.1% more of their coin supply to the bag with this -39% drop. Historical evidence is that this tier group It shows that it has an alpha in future price fluctuations. “

Current ETH supply According to the blockchain explorer Etherscan, it stands at 119,516,810.

Santiment also states that he is monitoring XRP after witnessing a surge in the number of unique users interacting with the network.

“XRP is holding up more than most altcoins on Thursday’s crypto slide day. A few days ago, the XRP network exploded at a unique address that interacts on the network, surpassing 200,000 for the first time since February 2020. This is noteworthy. “

Blockchain analysts add that Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest market capitalization coins, have also recorded significant increases in network activity over the last decade.

“Whatever your opinion about Dogecoin and Shiba Inu, each seems to show a significant increase in network activity, especially in the last 10 days, DOGE (+ 32%) and SHIB (+ 35%). Has returned many network interactions. “

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