The Ethereum (ETH) price has struggled to hold up for the past two months as the global crypto market capitalization plunged by roughly $150 billion. As the price fell, the top 10 non-exchange ETH address holdings hit a new all-time high (ATH).
According to data from market intelligence platform Santiment, the top 10 ethereum whales hold approximately $59.47 billion in ether – 31.8 million ETH. This move comes as more users move to “self-custody and DeFi options,” according to Santiment.
Also, as whales go, the data shows that only 7.29 million coins remain within the top exchange addresses, worth around $13.65 billion at the time of writing.
The whale’s movements occur as the ether descends further. The second largest cryptocurrency is down 1.48% in the last 24 hours.
Ethereum is trading at around $1,870 at the time of writing. It has decreased by 1.4% over the last month and has witnessed a 0.78% drop in the last 60 days.
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On the other hand, ethereum’s 24-hour trading volume has skyrocketed despite uncertain market conditions. It has increased by 44% and currently stands at $4.7 billion.
Last month, the US Securities and Exchange Commission (SEC) announced that ETH would be accepted for penalty payments. It is important to note that the SEC still classifies ethereum as a security.
