Thus, as smaller investors have been selling their ETH holdings for fear of a further price drop, 10 largest wallets have picked up that Ethereum, and now they overall hold 35% of all ETH available in circulation.
Now, per that tweet of the data vendor, the number of addresses that hold 10 to 10,000 ETH rose back up to 335,000 units, showing weekly network activity of transactions worth more than $100,000.
Prominent crypto analyst expects the ETH price to continue falling this summer. According to his recent tweet, he believes the second-largest crypto has been following the same pattern in the summer for several years. According to the chart he shared, for the past few years in the summer the ETH price would first take a big dip and after that.
It seems that to happen this year as well.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
