Ethereum (ETH) Price Lacks Catalyst But Whales Accumulate
However, on-chain data shows that the top-tier whale addresses have continued with their ETH accumulation. Over the past five years, Ethereum has witnessed an increase in the size and accumulation of its top 10 addresses, which now hold a larger portion of the total available coin supply. advertisement During this period, the ownership of the top 10 largest addresses has grown from 11.2% to a current 34.6% of Ethereum ($ETH). The added amount of 27.86 million $ETH stands at approximately $51.6 billion, as per the Santiment report. Courtesy: Santiment Ethereum (ETH) Lacks Catalyst As said the Ethereum (ETH) price has been largely following the BTC price movement since the beginning of 2023. Ever since the Merge event in September 2022, ETH has lacked a major catalyst for the price to rally further. Let’s take a look at the technical chart to decide on any further price action for ETH. Between July 14 and August 8, the price of ETH has shown a desce...