In an unsurprising move, the top 100 Ethereum holders have been reported to accumulate even more ETH tokens, likely because of the belief that the crypto-asset is massively undervalued, compared to its uses and potential. In the short term, the price seems to be going down. However, the largest stakeholders seem optimistic about mid to long term scenarios.
The top 100 holders of #Ethereum are once again beginning to accumulate higher percentages of the total token supply, in spite of the ongoing consolidation that has been occurring for the past couple of weeks. Generally, when this kind of accumulation starts to mount, it’s a pic.twitter.com/Rr5C8vuE97— Santiment (@santimentfeed) March 4, 2020
These statistics were released by Santiment network and are highly encouraging for Ethereum hodlers and traders. The consolidation of Ethereum by top accounts is a bullish signal, despite the current setbacks.
Into The Block Ethereum Statistics
These findings are further supplemented by Into The Block data, which shows that 43.3% of the total accounts are in green and making money, 6.3% are at break even and 50.5% are in loss. The accounts at loss can rapidly shift to green, with a modest rise in price of the prominent crypto asset.
The accumulation by top accounts is at 39.9%, a significant percentage. The measure is derived from accounts, which hold 0.1-1% of the circulating supply.
The holding composition by time shows even better picture, 54% of the account have held ETH tokens more than an year, 40.7% of the account have managed holding between 1-12 months and only 5.3% of the accounts have held less than a month.
Ethereum Price Analysis
Ethereum price is showing bearish tendency hovering at $226. The day’s low has been $220 and high at $228. If Ethereum clear upwards, next significant resistance lies at $235, $247 and $260. Currently, most technical indicators are signalling…