Santiment Data Reveals Mixed Trends Among Large ETH Holders

Most of the top 10 cryptos are trading in the green today, and the same can be said for the largest altcoin by market cap, Ethereum (ETH). According to CoinMarketCap, ETH is currently worth about $1,710.36 after a 3.45% increase in price over the last 24 hours. ETH was also able to reach a high of $1,726.62 and a low of $1,644.54 over the same time period.

Ethereum / Tether US 1D (Source: TradingView)

The altcoin’s weekly performance is also looking up as ETH is in the green by more than 20% over the last seven days. The altcoin’s 24-hour trading volume is in the red zone at the moment and now stands at $9,849,552,804 after a more than 20% decrease since yesterday. In terms of market cap, ETH stands at $209,313,510,016.

Ethereum supply held by 10-10k vs. 10k-10M wallets (Source: Santiment)

The well-known market intelligence platform Santiment took to Twitter on March 16 to share some of its observations about the recent behavior of ETH holders. According to Santiment’s data addresses holding 10-10k ETH have collectively added more than 3 million coins over the past year.

?? #Ethereum’s large addresses have shifted their supply held substantially. Addresses holding 10-10K $ETH have collectively added 3.61M coins in the past year. Meanwhile, addresses with 10K-10M $ETH have collectively dumped 9.43M in the same timeframe. https://t.co/5iETPLmP36 pic.twitter.com/HdIpuvp602

— Santiment (@santimentfeed) March 16, 2023

On the other hand, addresses with 10k-10 million ETH have dumped more than 9 million ETH over the same time period. Another crypto analyst also decided to share his observations about ETH on Twitter yesterday.

According to the analyst, the most important supply barrier for ETH sits between $1,720 and $2,150. He added that if bulls are able to break above these critical levels, there is basically no major resistance that could prevent the price of ETH to climb even more.

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