The outflow of the largest altcoin by capitalization from trading platforms indicates the accumulation of digital coins by investors and is a good sign for long-term holders, according to Santiment analysts.
About a third of the total Ethereum supply has been withdrawn from Crypto Exchanges over the past year. This is indicated by data from the analytical company Santiment .
Analysts note that the withdrawal of the altcoin from trading platforms is a good sign for long-term holders and indicates the accumulation of digital coins by investors.
📈 #Ethereum has rebounded back to $3,163. In the past year, 1/3 of the $ETH supply that was on exchanges, has now been moved off. This is a good sign for patient #hodlers.
👉 Sep. 26, 2020 exchange supply: 24.1%
👉 Sep. 26, 2021 exchange supply: 16.1%https://t.co/Nr151W3pGg pic.twitter.com/GByoBmNaRZ— Santiment (@santimentfeed) September 27, 2021
In August, it became known that the “whales” have accumulated 43.7% of the total supply of Ethereum. Three years ago this figure was 35.8%.
In total, whales could own $ 205 billion in ETH, based on the altcoin emission, which is 117.6 million, according to CoinMarketCap.
🐳 #Ethereum whale addresses aren't stopping their accumulation as prices hover above $3,100. 3 years ago to the day, addresses with 10k+ $ETH owned 35.8%. Today, they own 7.9% of the #2 market cap asset's total supply. There are 1,338 of such addresses. https://t.co/wVVPHCDmI9 pic.twitter.com/SGTaXXYhjI
— Santiment (@santimentfeed) August 13, 2021
Holders of Ethereum, on whose addresses there are more than 10 thousand coins, continue to accumulate cryptocurrency.
On August 5, the London update took place on the Ethereum network, which changed the system for calculating transaction fees and activated the mechanism for burning digital coins.
In mid-September, the volume of destroyed tokens in the Ethereum network exceeded $ 1 billion. As of September 27, 374.8 thousand ETH ($ 1.16 billion) were destroyed.
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