Although the entire crypto market has plummeted in 2018, active trading whales have acquired more than any other year since Ethereum’s inception. According to the underlying data emanating from TokenAnalyst, at least 5,200 actively traded addresses have accumulated large balances that have propelled them up to the top 1000 since Ethereum’s Genesis.
November ended with the big players sitting on a staggering 80% increase compared to the start of the year and whale active address holdings have increased over 4x since 2017 (ETH). Currently, these whales who continue to create and sustain a market balance are an even 500 owning at least 20 million ETH alone. That figure is just a little lower than the ‘supercomputers’ tally of the entire circulating supply.
Furthermore, this tally for the top ETH actively trading addresses is perched at around $2.3 Billion. However, it is evident that on the balance big investors have come and gone with the whales owning as much as they had during the peak season. In January 2018, the whales had 11 million during peak season compared to around 5 millions at the beginning of 2017.
Is it an Exit Strategy?
The extensive growth in the Etherereum holdings by many active big traders could, and maybe is, the primary consequence of many other traders exiting the trading of tokens. Most of the dumped tokens have been paired with ETH which by all accounts has plunged massively compared to the start of the year.
On the other hand, it is noteworthy that the balance is split at the start of December compared to the start of the year at the peak season on the basis of an Ether holding. The current total of whales’ holdings shows that no new entrants have joined this space recently.
Furthermore, the number of whale addresses have dropped by almost 30% compared to the start of the year. The active traders are consolidating more holdings of the circulating supply as some whales exit the market.
Is There a Comeback?
The net balance of withdrawals and additions all through 2018 up to now stands at a positive of over $1 Billion. These figures emerge even after the entire ETH holdings declined to $2.3B currently from $21B at the end of January.
Although the data may not indicate fresh money introduced into the market, approximately 90% of these funds came through in 1Q18. Nonetheless, the fourth quarter of 2018 with just under a month left on the calendar stands at a 270% increase compared to the third quarter of 2018.