Bullish sign: Ethereum accumulation among whales reached the highest level in the last 2 years

Data from the analytics platform Santiment shows that the amount of Ether accumulation among whales on the Ethereum network has reached its highest level since 2020.

To Report DailyHoddle, Sentiment recently tweeted that the accumulation rate of Ethereum among the network’s wealthiest addresses has grown significantly.

According to the analysts of this collection, the last time Ethereum accumulation among whales was seen in these dimensions was back in 2020, which was accompanied by a 50% jump in the price of ether within a month.

Sentiment wrote on his Twitter:

Ethereum active “sharks” and “whales” are busy accumulating Ether while the price is lower than a quarter of the historical peak of a year ago. Previously, between October and November 2020, these addresses, which have between 100 and 100,000 Ether units in stock, helped the price grow by 50% in 5 weeks.

Sentiment previously said that Ethereum whales have deposited 1.03 billion dollars of new Ethereum to their addresses in just one day, which is the fifth largest daily accumulation of Ethereum among the whales of this digital currency.

In contrast, Arbitrum’s second layer network has recently become a competitor to Ethereum itself in terms of stablecoin usage. Sentiment analysts say that even if the use of stablecoins in the Ethereum network is still much higher than that of Arbitrom, the growth of this index in the Arbitrom network has recently reached 100%, while the use of stablecoins in the Ethereum network has only increased slightly. has been found