Here's what caused Ethereum to reach intraday highs ETH $ETH Crypto
, shark and whale addresses, or those holding 100 to 100,000 ETH, are the likely cohort responsible for the recent ETH price movement.
On a chart, Santiment depicted the key times at which these cohorts accumulated and dumped. As per the data presented, the most recent bout of accumulation by this category of holders coincides with the latest increase in the price of ETH.noted that Ethereum's active shark and whale addresses continued to accumulate at a discount. The on-chain analytics firm states that these key large addresses have been rapidly adding ETH to their bags.
Another encouraging sign for the network is the increase in the number of key large addresses, with the amount of 100 to 100,000 ETH holder addresses reaching a 20-month high. In another development, Phantom, the top cryptocurrency wallet in the Solana ecosystem, announced that it will roll out support for assets on the Polygon and Ethereum blockchains over the next three months.
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