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Ether Whales Load Up Over $1 Billion Worth Of ETH As Price Rebounds, But There's A Catch

1 min read Original Link
  • Investors are questioning the vague timelines for the redemption of their staked ether.
  • Ethereum developers maintain that the coins will be accessible after the Shanghai upgrade.

Ethereum’s whale addresses are increasing their accumulation of the second-largest cryptocurrency, according to Santiment. The analytics firm reported that wallets holding between $10.9 million to $1.09 billion worth of ETH scooped 947,940 ether (worth $1.1 billion) on November 21.

A similar report by the same company showed that as of October 22, the leading Ethereum holders – then 132 in number- had added 3.5 million ETH since September 11.

The latest activity by the Ethereum whales is boosting the price of the top altcoin, which has dropped 28% since the FTX fiasco. ETH surged 5% to an intraday high of $1,204 on November 24 before retracing to $1,194 at the time of writing.

(by Jared Kirui)

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