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Ethereum Whale Addresses Hit 10-Month High, ETH Might Outperform BTC

The absolute number of Ethereum (ETH) Whale addresses recently hit a 10-month high. The cryptocurrency data analytics firm Santiment says the best 100 non-exchange wallets presently hold more than 21,800,000 ETH.
Santiment says the sum is equal to $4.5 billion. In any case, at the time of writing, ETH has surged from $201 to $219, making the total holdings of the top Ethereum addresses worth almost $5 billion. As per the analysts, this denotes the biggest collective balance the top 100 whale wallets.
The firm includes that addresses to holding a lot of Ether keep accumulating the digital currency and that the purchasing spree among these huge financial specialists is likely driving a surge in ETH prices.


2/ 100 addresses since May, 2019.
In the last two days alone, these top $ETH whale addresses have added an additional 145,000 $ETH (about $30,300,000) as the price of #Ethereum grew by a bit over 4% in this timeframe. pic.twitter.com/XGERW53POB
— Santiment (@santimentfeed) May 28, 2020


Ryan Watkins, a research analyst at cryptocurrency data tracker Messari, is intently watching the harmony between Ethere and the various tokens that have been based on the Ethereum blockchain.
“ERC-20 tokens are approaching 50% of the total value stored on Ethereum. Over the past two years there has been a complete transformation in how value is stored and transferred on the Ethereum blockchain.”
“ETH is increasingly close to being flipped on its own blockchain. Whether or not it does will likely depend on the growth of stablecoins vs growth in the value of ETH.”
“Nevertheless, this transformation in value on Ethereum is not just about assets being stored. They’re also being used to move significant amounts of value. Driven by the growth of stablecoins, Ethereum is on pace to settle more than $530 billion this year.”
Scott Melker, otherwise called ‘The Wolf Of All Streets’ on Twitter, stays bullish on Ethereum (ETH), and predicts that Ethereum is ready to outflank Bitcoin.


I'm still more bullish on $ETH than $BTC , for the record.
— The Wolf Of All Streets (@scottmelker) May 28, 2020


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