New Ethereum Wallets Created Hit the Highest Since July, 200 Largest ETH Whales Hold This Much Combined
Ethereum whales are aggressively accumulating ETH at a rapid pace, while new user growth also sees an uptick, according to on-chain analytics firm Santiment.
Santiment reports that the 200 largest Ethereum addresses now hold a combined 62.76 million ETH worth approximately $124.1 billion as of November 22nd. This represents a 30.3% increase in their holdings since November 21st.
Source: Santiment – Start using it today
Additionally, Santiment recorded 94,700 new Ethereum addresses created on November 21st—the highest single-day spike since July. This may indicate new users entering the network and acquiring ETH.
The data combines to paint a picture of rapidly expanding network usage and coins flowing into the hands of the largest ‘whale’ holders. Typically, in crypto market cycles, this increasing concentration of supply precedes major price appreciation.
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With on-chain activity and whale accumulation accelerating, analysts wonder if an Ethereum price surge is imminent. The data echoes patterns seen in previous bull runs, perhaps a sign this cycle is gearing up to repeat history.
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