Coingape - 12/4/2018 10:17:10 AM - GMT (+0 )
Well, all is not good at Ethereum as the prices are threatening to breach the USD 100 mark and issues with respect to growth and stagnancy continue to remain unanswered. But that hasn’t stopped the ETH whales from “Hodl”ing the ETH even as concerns still loom. According to the data published by Diar research in November 2018, ETH whales sat on a whopping 80% increase versus the start of the year.
Active trading whales have accumulated more in 2018 than any period
Diar Research happens to have assessed data provided by TokenAnalyst which showed that over 5200 actively traded addresses have held balances that propped them up within the Top 1000 since Ethereum’s Genesis. The research also puts forward
“Today, whales who continue to maintain a balance are an even 500 at the end of November, holding over 20Mn ETH alone, just shy of 20% of the ‘supercomputers’ total circulating supply. At the start of the year, whale addresses amounted to 11Mn during peak season and only 5Mn at the start of 2017.”
According to the numbers presented, whales seem to have superlative confidence in Ethereum and Vitalik and believe they would soon turn around things in their favor. The other reason for this kind of whale move which the report also mentions most likely is, the result of traders exiting the trading of tokens, most of which have been paired with ETH, which has plummeted by all accounts versus the start of the year
The data also shows that, on an Ether holdings basis, and as a total of whale holdings, the balance is exactly split at the start of December versus the start of the year at peak season indicating that new entrants are yet to come into space. There are now fewer whale addresses than the start of the year, a drop of nearly 30%, with active traders consolidating further holdings of the circulating supply.
Source: Diar Research
Whatever the case may be, one thing is for sure, Ethereum needs answers to its problems and needs them real quick. If it doesn’t find solutions soon, whales may also start dumping bringing more misery to Ethereum
Will Ethereum be able to find answers to its problems? Do let us know your views on the same.