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The bear market in 2018 was devastating. Many investors have lost tons of money due to the decline in the market movement. The price of Bitcoin (BTC) fell by 80% compared to its historical maximum. Most of the other major digital businesses experienced a decline of around 90% or more. So far, digital currency prices have declined and remained low for long periods, to the point that many investors who acquired digital assets at the start of 2017 but remain profitable are starting to cash in on their earnings before the atmosphere you change.
How large-scale Ethereum holders have cultivated their holdings
Despite this decline in the last months for digital assets, when we talk about Ethereum (ETH), blockchain data show that large-scale Ether owners (colloquially called "crypto-whales") that have hindered the drainage of the crisis have bought the decline and have significantly size of their tokens. At least this is what a research has found. Ethereum Price (ETH) today – ETH / USD
According to recent research on the cryptocurrency market, there are about 500 Ether addresses actively traded between 1,000 on the market which makes it the largest.
These portfolios have managed to accumulate large sums of Ether tokens during the 2018 fiscal year, despite the irregular market. This meant that these owners held their holdings in the ETH of at least 80% from January of this year. This percentage is the highest achieved through such a period in the history of Ethereum. By the end of November, these addresses collectively held a total of 20 million ETHs, equivalent to $ 2.2 billion. This sum represents about 20% of the circulating offer of ETH tokens.
Growth of whale holdings attributed to investors who rely on ICO tokens
Diar attributes the accumulation of whale holdings to Eth investors following ICO tokens. ICO tokens were one of the worst results in 2018. In addition to pressing pressure from the Securities and Exchange Commission and other regulatory bodies around the world, a number of ICO-funded startups did not live up to their expectations and failed to deliver.
Even the ICOs they delivered, including Sirin Labs, the creator of the now widely adopted "blockchain smartphone", often find that their digital tokens continue to exchange their initial stock quote prices in red. Faced with this scenario, traders who initially diversified "their Ether holdings in ERC-20 tokens began to reduce their losses to consolidate into Ethereum (ETH).
What the report says
"The tremendous growth of active crypto-whale active reserves could be the result of traders who are exiting the trade in goods, most of which have been joined to Ethereum and have plummeted from all accounts. beginning of this year ".
However, the growth of whale holdings is not related to the expansion in the sum of addresses that can be classified as whales. Since January of this year, the total number of active whale keepers has decreased by 30%, further concentrating ETH's offer among the smallest addresses. That said, it is safe to say that the ETH offer is less focused than it was at the start of 2017 when the addresses of whale contained 33 million ETHs (which made up a third of Ether's supply to the world). era).
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