In spite of the recent sell-offs recorded across Financial markets, large entities known as whales had increased their buying pressure on Ether coins.
Data retrieved from Santiment Research Company reveals top ETH whale holders are confident in crypto’s 2 market cap coin. Data also indicates the top Ethereum non-exchange whale increased its holdings by +84% this past month.
Their bag jumped from 3.16m to 5.80m in this time span!
? To clear any doubt that top $ETH whale holders are confident in #crypto's #2 market cap coin, our data indicates the top #Ethereum non-exchange whale increased its holdings by +84% this past month. Their bag jumped from 3.16m to 5.80m in this time span! https://t.co/UIHcZtt4Fy pic.twitter.com/kgJjwuP2qP
— Santiment (@santimentfeed) September 8, 2020
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What you should know: Nairametrics had in recent times, observed the high movement by these Ethereum Whales as these large entities have purchased almost half of all the Ethereum mined so far in 2020.
This is clear evidence that major investors are now looking at the future potential of ETH as an investment despite the recent sell-offs recorded in the second most capitalized crypto market.
In addition, the recent boom in Defi tokens is as triggered an unusually high volume of transactions on the Ethereum network, often leading to congestion and a surge in transaction fees charged by ETH miners.
Quick fact: Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control, or interference from a third party.
Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.