Ethereum Top 10 Whales Now Hold 31.8M ETH, A New All-Time High

On-chain data shows the ten largest whales on the Ethereum network are now holding 31.8 million ETH, a new all-time high. Ethereum Holdings Of Top 10 Whales Have Now Surpassed August 2015 ATH According to data from the on-chain analytics firm Santiment, the largest ETH whales have grown their supplies recently.

Timeline of Ethereum

Ethereum co-founder Jeffrey Wilcke transferred 22,000 ETH worth 41.13 million to crypto exchange Kraken on June 5. The move coming after the recent selling of millions of ETH by the Ethereum Foundation and co-founder Vitalik Buterin has raised speculation of whether ETH price to witness a massive fall in the coming weeks.

Ethereum (ETH) price has traded above $1,750 since May 12, 2023, making a series of higher lows along the way. With ETH price volatility rising in the past week, can the bulls push the rally into a new gear to break above the critical $2,000 milestone?

Ethereum faces congestion for validators to enter and begin staking in the protocol. According to data from Wenmerge, an information dashboard, more than 90,000 validators are waiting to provide protocol validation services on Ethereum. This means a validator entering the queue today must wait more than 46 days to be activated and begin its tasks.

Ethereum's (ETH) recent hard fork, enabling users to withdraw staked Ether, is poised to position the cryptocurrency as a formidable contender against US treasury bills in the coming years, according to VanEck, a US asset manager controlling a $69 billion exchange-traded fund (ETF).

In recent weeks, a notable decline in the influx of Ethereum onto exchanges has been observed, with new data shedding light on the decreasing balance of Ethereum held on these platforms.

On June 2, 2023, the Ethereum blockchain explorer and insights web portal, Etherscan, released a new feature that allows users to refine their transaction searches with filters. Onchain sleuths, researchers, and investigators can now narrow down the results in a single view using a variety of new filters.

Etherscan has unveiled a cutting-edge tool, the Advanced Filter, currently in its testing phase. This innovative application empowers users to customize their search results by setting specific parameters using publicly available data from the Ethereum blockchain.

Ethereum bulls were able to defend the $1880 zone upon a retest and the prices climbed back above $1900 at the time of writing, but buyers should be wary of the lack of demand behind ETH recently.

The cryptocurrency markets are currently experiencing a bearish sentiment, but amidst this downturn, there are some encouraging signs for altcoins, as highlighted by analyst Michael Van de Poppe in a recent YouTube video.

Ethereum Price Analysis: By the press time, the Ethereum price traded at the $1905 mark with an intraday day of 0.7%. The daily chart shows the buyers facing a minor hurdle at the local top $1922 formed during the breakout of the wedge pattern.