January 27, 2023

Crypto analytics platform Santiment says Ethereum (ETH) whales and sharks have rapidly swallowed the leading smart contract platform over the past two days.

New data from the market information platform reveals that Ethereum holders holding between 100 and 1 million ETH added 561,000 Ether worth approximately $690 million between December 5 and 6.

The top altcoin is changing hands at $1,287 at the time of writing, up 5% in the past 24 hours. According to Santiment, Ethereum whales and sharks now own more than 65% of the existing ETH supply.

“Whales and sharks add more Ethereum as prices hover around $1,230. The major shark and whale addresses (with 100 to 1 million ETH) own two-thirds of the coin’s total supply, adding 2.1% more collective coins to their bags in the past month.

Source: Santiment/Twitter

Acknowledging the high volatility the oracle network Chainlink (LINK) has experienced over the past month, Santiment say it can be attributed to the excitement ahead of the launch of the blockchain’s staking feature.

According to Santiment, Chainlink’s price rose initially due to the anticipation of the staking protocol, but fell as the launch approached.

“Chainlink has surged to $9.35 in the past month alone and dropped to $5.59. The broad price ranges have been spurred on by the LINK strike hype and now live launch, half the community pool is filling up and supply on exchanges is falling.

Source: Santiment/Twitter

Chainlink is trading at $6.88 at the time of writing, up 3.6% over the past day.

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