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October 4, 2022
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Number of Ethereum whales jump as ETH’s research interest hits a new historic record

Ethereum has managed to raise its price sharply since the start of the Bitcoin bull run

Ethereum addresses with at least 10,000 ETH ($ 10.7 million) have recently increased, even though the cryptocurrency price remains above $ 1,000 and threatens to reach its previous record close to $ 1,400. The increase in the price of Ethereum and the accumulation of whales arrive when research interest reaches a new record.

According Santimen datat, the number of existing Ethereum whales has increased in the past two weeks from 1,171 to 1,220, which shows that large holders are not just holding their positions, they are confident that the price of ETH could soon test its previous ATH.

Ethereum’s price was late last year compared to Bitcoin, which started its bullish run after the PayPal announced that it was allowing its users to buy, sell and hold BTC, ETH, LTC and BCH on its platform and as corporations began to buy BTC to hedge against inflation.

The price of ETH skyrocketed earlier this year to come close to its historic high, at a point being traded above $ 1,300. As the price of BTC fell from its new high near $ 42,000, the price of Ethereum was also corrected, falling briefly below $ 1,000 before recovering.

ETH / USD chart via TradingView

The second largest cryptocurrency by market capitalization recovered at a time when research interest reached a new historical record. It is important to note that the market capitalization of cryptocurrency is already at a new historical record.

In January 2018, when it was traded close to $ 1,400, there were about 97.1 million ETH in circulation, while now there are about 114.2 million ETH in circulation. The market capitalization of cryptocurrency has increased as demand for it continues to grow, both among institutional and retail investors.

Retail investor interest is often measured using data from Google Trends, as it shows users ’interest in a specific currency or network over time.

Cryptocurrency enthusiasts on social media have shown that they are optimistic about both ETH and Bitcoin.

Cameron Winklevoss, one of the Winklevoss twins and co-founder of the cryptocurrency exchange Gemini, said that BTC and ETH “have the potential to be timeless,” comparing the cryptocurrencies with the shares of Amazon.

Source: CryptoGlobe

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