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In the research study on cryptocurrency, the latest issue of the research journal of Diar, the company outlines a surprising discovery: the Ethereum whales have accumulated more Etereum in this bearish market than any combined cryptocurrency cycle. Ethereum whales currently hold 80% of the total supply of Ethereum tokens.
The Ethereum 500 portfolio currently holds 80% of the total Ethereum supply. Combined hold about $ 2.3 billion worth of Ethereum. Whales currently own 20 million Ethereum tokens in November 2018, compared to 11 million at the start of the year.
Image source: Diar
Total whale holdings decreased from $ 21 billion to $ 2.3 billion this year, but total accumulated tokens nearly doubled. This accumulation makes you think if there is a bigger game in play.
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The cryptocurrency markets pass through cycles, where the value rises sharply, falls gradually and then sharply increases again larger than the previous one and the model repeats itself. The last biggest downturn in the value of cryptocurrencies occurred on January 17, 2015, when Bitcoin reached $ 197 after reaching a previous high of $ 1,035 in December 2013. Although everyone criticized Bitcoin that he would die this time , within 3 years it ended up to reach an all-time high of $ 20,000.
Many investors believe that the next cycle will be even bigger than the previous one, and can be seen by the movement and the accumulation of popular cryptocurrencies. Food for thought: why else will the whales continue to accumulate more?
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