The number of “whales” with large ETH reserves has increased since the beginning of September

According to Twitter user Ali Martinez, since the beginning of September, at least 68 Ethereum whales have been added. This fact coincided with a 30% drop in the ETH rate.

Martinez used data from the analytical website Santiment. He noted that the number of wallets storing from 1,000 to 10,000 ETH (from $ 350,000 to $ 3.5 million at the current exchange rate) increased by 68 over the period from September 1 to September 3. At the same time, on August 31, the rate of the second cryptocurrency reached $ 367, and by September 5, it fell to $ 326.

Note that the boom in the decentralized finance (DeFi) industry has significantly increased the demand for ether. The increased number of transactions on the Ethereum network led to a significant increase in fees, but after the fall in the ETH rate, both the number of transactions and the size of fees decreased.

Ether remains the second largest cryptocurrency in terms of capitalization, which is valued at $ 39.7 billion. The USDT stablecoin is in third place.

Recall that recently Ethereum co-founder Vitalik Buterin proposed tripling the cost of smart contracts that update the state of the network to solve the problem of exponential growth in fees.

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