According to data from on-chain analyst Santiment, the ratio of ETH stocks of non-trading whales to trading whales has hit a new all-time high (ATH) after the price recently rebounded above $ 3,000.
Santiment said that Ethereum has reclaimed $ 3,486 and that the amount of ETH held by non-swap whales has now grown to 22.91 million.
This is more than five times what stock market whales own of 4.6 million ETH. Santiment says this is an all-time high, claiming the more ETH held by non-exchange whales the better.
In July, the top ten Ethereum whales amassed large amounts of ETH. In mid-July, these whales hold 20.58% of the ETH supply after buying another 2.12% of the supply.
🐳 #Ether jumped to $ 3,486, and the top 10 unlisted whale addresses hold $ 22.91 million $ ETHcompared to just 4.6M $ ETH held by the top 10 stock market whales. This 5: 1 ratio is unprecedentedly high for a metric where the higher the separation, the better. 👍 https://t.co/E7IqPGvwr3 pic.twitter.com/sIQMzRfY38
– Santiment (@santimentfeed) October 4, 2021
The total value locked in Ethereum 2.0 reaches almost 8 million ETH
Additionally, Glassnode says the amount of ETH tied in the Ethereum 2.0 deposit contract has increased to a new ATH from 7,837,922.
That has increased to 1 million from over a month ago, at 6,727,938 ETH on August 16.
Over $ 1.3 billion burned in the third quarter of 2021
According to Etherburned.info, the amount of Ethereum burned in the third quarter of this year was 409,669 ETH, worth about $ 1,358,695,270.
The ETH burn mechanism was implemented as part of the EIP-1559 upgrade, which went live on August 5th.
To date, the total amount of ETH burned is up to 427,270.94, which is the equivalent of $ 1,417,761,355. For the last hour, the number was 224.27 ETH, worth around $ 749,830.
Total amount of ETH burned | Source: Aetherburned
The burning mechanism makes Ethereum a deflationary cryptocurrency, so many expect this to be another boost to Ethereum’s significant price hike in the near future.
Last week ETH price rebounded above $ 3,000 and is currently trading at $ 3,346 at press time.
ETH price chart | Source: Tradingview
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
According to U.Today