According to Santiment analysis, the largest non-exchange wallet has bought Ethereum from ‘weak hands’ and has accumulated a whopping 26.22 million ETH with current price cuts. Santiment’s tweets show that non-exchanged wallets continue to outperform those based on centralized cryptocurrency exchanges. The latter currently holds the lowest amount of 3.52 million coins since August 2015.
According to IntoTheBlock, Ethereum continues to make profits on 67 percent of all funds invested in it, despite a 50 percent price cut that has hit the second largest cryptocurrency. It shows that 30 percent of Ethereum holders are facing losses and 2 percent are still in bankruptcy. While about 59 percent of investors first bought Ethereum about a year ago, long before the recent bullishness of Ethereum was caught. Excluding these long-term holders, ETH has exceeded USD 4,000, so it’s possible that 35 percent jumped into ETH during a recent rally.
On Friday, U.Today reported that Bitcoin has crashed to the USD 38,000 level and Ethereum was well below USD 3,000, closing a cryptocurrency position worth about USD 423 million. At least USD 70 million of these liquidations were in Ethereum.
Read more:
- Layer 1 and DeFi tokens affected by the crypto crash
- Holders are losing money amid the downturn of crypto market: IntotheBlock
