10 Ethereum wallets hold 21% of the total amount of ETH
Cryptokitties with millions of Ethereum on their wallets continue to accumulate ETH. According to the latest data from on-chain analytics platform Santiment, the top 10 ETH addresses in the world have shown an increase in balances over the past 15 weeks.
The top 10 Ethereum wallets currently hold 21.38% of the total supply of ETH, the highest level since May 4, 2017.
Ethereum is recovering, at the moment there is a small bounce to $ 3550. The top 10 whale addresses have grown markedly in the past 15 weeks and now own 21.38% of all ETH, the highest in 51 months, Santiment noted.
Standard Chartered, one of the world’s largest banks, recently released a report on Ethereum and highlighted the growing interest of retail and institutional investors in the world’s second largest digital asset. The bank has set a target price for Ethereum in the amount of $ 26,000-35,000 and described the positive impact of ETH 2.0 on its price.
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We believe that in the medium term, ETH is a better buy than BTC. We expect the cross rate between Ethereum and Bitcoin to double from the current level to 0.161, bringing the total market capitalization of ETH to the BTC level, Standard Chartered said.
ETH’s total market capitalization has grown by over $ 100 billion since early August 2021. Ethereum’s current market cap is around $ 415 billion, up nearly $ 50 billion in the last 48 hours. ETH Recovers Significantly After Recent Cryptocurrency Market Crash.
The dominance of Bitcoin and ETH in the market is currently moving in opposite directions. BTC’s dominance in the cryptocurrency market fell sharply this week following strong results from Cardano (ADA) and Solana (SOL).
The market share of Ethereum, on the contrary, is growing rapidly – now the digital asset occupies 19.5% of the total market capitalization of cryptocurrencies.