Big Ethereum investors, known as whales, have continued to add more coins to their holdings, despite the price action of the world’s second-largest cryptocurrency by market capitalization being chaotic over the last couple of months.
ETH Whales Fill Up Their Bags
A recent downturn in the crypto markets has caused panic selling among many investors. With no signs of de-escalation of the conflict between Russia and Ukraine, prices have tumbled across the board.
However, negative sentiment generally provides other investors a chance to make profits, and Ethereum whales have been taking advantage of the uncertainty to accumulate tokens at a discount.
Ethereum’s whale-tire addresses — wallets holding between 1 million and 10 million ETH — remain high despite the price of the asset correcting by over 48% from the November record highs, data provided by on-chain behavior analytics platform Santiment shows. These whales have actually accumulated 2.2% more of the supply in the past six months.
Source: https://zycrypto.com/ethers-billionaire-addresses-at-record-high-as-whales-load-up-eth-disregarding-gloomy-price-action/