Last week, ethereum whales bought the asset’s crash, adding nearly $500 million worth of ETH
Whale addresses appear to have eaten Ethereum (CRYPTO: ETH), which fell below the $2,200 mark this week.
According to data from on-chain analytics platform Santiment, addresses holding 10,000 ETH or more have added 200,000 ETH in the past week at a price of around 4.972
Santiment also noted that addresses holding 10,000 ETH or more have grown at the fastest rate on record since the Ethereum price hit an all-time high of $4,891 in November 2020.
Whales aren’t the only ETH holders taking advantage of the asset’s recent correction. According to IntoTheBlock, small ETH holders (holding 1 to 10 ETH) have grown to over 1 million.
At current prices, that means small ETH holders hold a total of $7.9 billion worth of ETH.
On Friday, ETH was trading at $2,390.72, indicating a 3.20% decline over the past 24 hours. The coin is down 51% from its all-time high, but has maintained a 90% gain in a year.