According to data from Santiment, an on-chain analytics firm, Ethereum mega whales have purchased 0.59% of the total supply of ETH within the past 12 days.

The price of ETH dropped below $4000 at different times since mid-November, enabling some whales to acquire more of the asset.

According to Santiment, Ethereum’s mega whale addresses have saved up almost 734,800 ETH within the past 12 days. This represents 0.59% of the total supply of Ethereum.

While macro consolidation and price dips could shake off some weak hands, this might not happen to large holder addresses, also known as whales. Large holder addresses always accumulate coins unloaded by small-time investors amid periods of panic.

Santiment also maintains that these whales have bought 1.28 million ETH in the last 45 days and 1.46 million ETH in the last 60 days.

U.Today reported that the price of ETH remains in an upward trajectory. At present, Ethereum trades at $4,735. ETH is almost 2.4% away from its all-time high of $4867 attained on Nov. 10.

Disclaimer: Information found on Blue Edge Crypto is those of writers quoted. It does not represent the opinions of Blue Edge Crypto on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.