376 addresses that probably are not exchanges and other service providers, who control 33% of all currently existing coins, Ethereum. However, these whales are only responsible for 7% of all transactions in the network and almost no influence on the quotes, although can temporarily increase the volatility of the massive sales. This is stated in the report of the analytical company Chainalysis.
Note that in 2016 these whales was controlled 47% of the total emissions, but then began to lose ground. In 2018 this figure is fallen below 30%. These major players carry out few transactions, and prefer to hold assets over a long period of time.
In Chainalysis found that the average price of Ethereum follow the price of bitcoin — if the latter increased by 1%, then a day later ETH will show a growth of 1.1%. The first cryptocurrency does not affect intraday volatility ETH.
It is noteworthy that the translations of the whales in exchange for not exerting pressure on the quotes of Ethereum, but only spurring the growth of intra-day volatility.
If the kit transfers the funds from the stock exchange to a private wallet, it has no effect no matter the price of ETH, nor the volatility.
So, analysts concluded that the impact of large players on price movements is overrated.
Ethereum, meanwhile, has demonstrated steady growth in the neighborhood of $240-$250.
We will remind, according to estimates Chainalysis, in the early autumn of last year the whales were controlled about 30% of the total emission of bitcoins, but at the moment, this figure dropped to 20%.
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