Major Ethereum holders hold a record $ 131 billion in cryptocurrency wallets

According to online metrics, the top 200 Ethereum whales have managed to accumulate almost 63 million coins of the main altcoin. At the moment, the largest bidders have concentrated about 52% of the total supply of Ethereum ETH $3,314.59 Bridged Ether (StarkGate) -0.47% Market capitalization $0.3 billion VOL. 24 hours $1.35 billion - as of November 24, 2023, this is $ 131,034,960,000.

As of November 20, more than 94 thousand new addresses have been added to the Ethereum ecosystem. Industry analysts note that this was the highest figure for the previous 4 months.

Many experts have come to the conclusion that the current actions of cryptocurrency whales can be perceived as a strong bullish signal. However, there are also some negative aspects. For instance, crypto enthusiasts were skeptical about the development involving Ethereum co-founder Joseph Lubin.

Crypto experts accuse Lubin of promoting fraudulent schemes with digital assets among crypto enthusiasts and large market players. The fact is that Lyubin used to recommend that investors work through several anonymous accounts on the network. In his opinion, this approach will allow attracting more target audience to the Ethereum ecosystem.

According to experts, such recommendations contradict the healthy ethics of the crypto community and are associated with calls for fraud. Amid these accusations, ex-Ethereum developer Christophe Yench stood up for Lubin. According to him, the use of multiple accounts by one person is a standard practice that is necessary to maintain user privacy. The situation has led to a large-scale discussion in the cryptocurrency industry.

At the time of writing, the leading altcoin is trading 0.21% higher than yesterday at $ 2,080. The total number of coins circulating on the market amounted to $ 250.1 billion. Traders executed $ 8 billion worth of daily trading deals. ETH’s market share increased to 18.7%.