So. Mai 26th, 2024

• Ethereum (ETH) has seen a recent surge in prices, with the current price at $1,400.
• On-chain data shows ETH sharks have been busy accumulating recently, with the number of ETH shark addresses growing by 3,000 in the last two months.
• The “ETH Supply Distribution” metric for the 100-10,000 coins cohort is the highest since February 2021.

Ethereum (ETH) has been on a remarkable run lately, with the cryptocurrency’s price surging above the $1,400 mark and showing no signs of slowing down. This surge has been largely attributed to the growing interest from institutional investors, but there is evidence of another group of investors also playing a role in Ethereum’s price increase.

On-chain data from the analytics firm Santiment has revealed that Ethereum sharks have been busy accumulating recently. The “ETH Supply Distribution” metric for the 100-10,000 coins cohort has been steadily increasing in recent weeks and is now the highest it has been since February 2021. This coin group’s lower and upper bounds convert to around $140,000 and $14 million, and the wallets in this range are referred to as “sharks” in the crypto space.

The increasing activity of Ethereum sharks indicates that these investors are buying ETH in large amounts and are likely looking to capitalize on the current price rally. As of now, the number of ETH shark addresses has grown by 3,000 in the last two months. This gradual increase in activity suggests that these investors are taking a long-term approach and are confident in Ethereum’s future prospects.

The increasing activity from Ethereum sharks is yet another sign of the growing institutional interest in the cryptocurrency. With more and more large-scale investors entering the space, the demand for Ethereum is likely to continue increasing, which should result in further price increases in the near future.

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