Ethereum Whale Wallets Cut Holdings by 1.7 Million ETH in Three Months Amid Possible Shift to Staking
Summary
- Wallets holding more than 1,000 ETH reduced their ETH holdings by about 1.7 million ETH over the past three months.
- Of that decline, only about 300,000 ETH moved to smaller wallets, while the rest may have shifted to staking or smart contract addresses.
- Ethereum was trading at $2,331.81 on Binance's Tether (USDT) market, up 11.75% from a day earlier.
Forecast Trend Report by Period
Large Ethereum wallets holding at least 1,000 ETH have reduced their combined holdings by about 1.7 million ETH over the past three months.
On-chain analytics firm Santiment said on Aug. 20 that wallets with 1,000 ETH or more trimmed their Ether holdings by about 1.7 million ETH from May 20 through Aug. 20. That represents about 2.9% of the ETH held by those wallets.
The decline does not necessarily indicate whale selling, however. Only about 300,000 ETH of the reduction appears to have moved to smaller wallets, while a substantial share of the remainder may have been transferred to staking or smart-contract addresses.
Ethereum was trading at $2,331.81 on Binance's Tether (USDT) market as of 3:05 a.m. on Aug. 21, up 11.75% from a day earlier.
JH Kim
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