On-Chain Data Shows Mass Accumulation Among Ethereum Investors

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Ethereum has gained a few percent since the lows of last week. The coin currently trades for $380 but peaked earlier today at $385. This price action has been underscored by reports that mass Ethereum accumulation has been taking place. Leading crypto analytics firm Santiment reports that ETH is leaving exchange wallets en-masse, suggesting accumulation and long-term confidence. The firm recently wrote: “ETH’s top 10 whale exchange addresses have continued swapping their funds to non-exchange wallets, & moving holdings at an impressive rate.” This may be related to institutional investment. According to Barry Silbert, CEO of Digital Currency Group, Grayscale Investment’s Ethereum Trust has accumulated 2% of all ETH in circulation The fundamentals of Ethereum are also strong as ETH 2.0 nears. Ethereum Accumulation Spikes Ahead of 2.0 Launch Santiment blockchain data indicates that there is a spirit of accumulation amongst Ethereum holders and investors. The blockchain analytics company recently…

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