Ethereum Whale Addresses Are Increasing As ETH Nears $1.5K

Ethereum whale addresses are increasing steadily as the ETH price is nearing the $1.5K level as we can see more today in our latest Ethereum news.

After a few months of gradual declines, the number of ETH wallets between 1000 and 100,000 ETH increased to a new peak. At the same time, smaller ETH addresses also increased due to staking for the upcoming merge. The data provided by Santimetn shows that the whales holding between 1K and 100K ETH saw a sharp increase in the past few weeks after crashing in May which halted the negative streak.

🐳 #Ethereum has recovered quite well in July, up +29% for the month and +14% alone in the past 24 hours. Additionally, there's an increase in the key 1k to 100k $ETH address tier since early May where 131 new whale addresses have popped up on the network. https://t.co/uGfRQ4dEls pic.twitter.com/ri8MhGIP0o

— Santiment Intelligence (@SantimentData) July 17, 2022

There are 131 new such wallets on Sunday with the total number exceeding 6,666. the trend is similar with the smaller ETH investors and those holding a full one have charted a new high of 1.5 million. Addresses with 100 or more coins, are up to a 15-month high of 45,000. the interest from smaller investors can be attributed due to the upcoming Merge event and maybe this is the most anticiapted event of the year that will see Ethereum’s transition from PoW to PoS and maybe bring bigger prices.

📈 #Ethereum $ETH Number of Addresses Holding 100+ Coins just reached a 15-month high of 45,081

Previous 15-month high of 45,069 was observed on 13 July 2022

View metric:https://t.co/FbjiMG3uFX pic.twitter.com/iMufq6Nzcc

— glassnode alerts (@glassnodealerts) July 18, 2022

The network was slowly preparing to make a leap and enter into the 9^th shadow fork that went live last week which also made a step in the right direction. A few days before the shadow fork event, ETH crashed to $1000 and the community feared another drop below this line but the hype didn’t allow such a dip, and the second biggest crypto went on a roll. The Ethereum whale addresses are increasing as ETH finally broke $1100 but then kept on climbing a few hours ago and neared $1500 which became the new high level in over a month. This meant that the asset was up by 50% in less than a week.

The increase in ETH prices affected the total value locked in ETH 2.0 which is about $18 billion or a new monthly high.

📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached a 1-month high of $17,957,275,144.37

Previous 1-month high of $17,913,399,617.10 was observed on 17 July 2022

View metric:https://t.co/1ezmu1GKcj pic.twitter.com/FyQ8EMIYyI

— glassnode alerts (@glassnodealerts) July 18, 2022

As recently reported, Ethereum is going through a huge rally over the past six days as the price increased by 50% over a period of a week. ETH strongly outperformed BTC and it is up by 25% against it over the same timeframe as can be seen in the charts. The move came a month after the cryptocurrency was trading in a fairly narrow range which broke to the upside and the ninth shadow fork also went live which put some of the final steps towards the migration to a PoS network.