“Whales” are buying up Ethereum
The amount of Ethereum controlled by the largest traders reached its highest position in the last 10 months. By May 28 there were 21.8 million ETH stored on the 100 largest wallets.
At the current rate, it roughly equals US$4.8 billion. The data has been published by the Santiment analysis on Twitter.
The experts claim, that during the last two days the investors added around 145 thousand coins - US$32 million. Since then ETH added about 5%.
Ethereum is also seeing more interest on the Bitfinex exchange. Tradingview claims, that in 2020 the 2020 there are much more bullish traders on the platform.
The most likely reason behind the new popularity of the coin is its coming update. The developers are planning to take Ethereum to its second stage and integrate the Proof-of-Stake protocol, which will let the holders earn by simply storing the currency.