Ethereum non-exchange whales now hold over 5x more ETH than crypto whales on exchanges

According to Santiment, the ratio of crypto non-exchange whales holding Ethereum against ETH exchange whales has reached a new peak as the second-largest cryptocurrency has recovered some of its recent losses above $3,000 recently.

ethereum-non-exchange-whales-now-hold-over-5x-more-eth-than-crypto-whales-on-exchanges

Source: Santiment

Top 10 Ethereum non-exchange whales versus exchange whales ratio hit 5:1 peak

Ethereum once regained the $4,386 level before falling back to the current $3,300 zone. The amount of ETH held by non-exchange whales currently totals 22.91 million coins.

This is more than five times what exchange whales hold – 4.6 million ETH. Santiment called this an unprecedentedly high rate for this metric and stated that the more significant the difference for non-traded whales, the better.

In July, the top 10 ETH whales accumulated large amounts of ETH. Back in mid-July, they held 20.58% of the total ETH supply on their address after buying 2.12% of the supply on the drop.

According to Glassnode, the amount of ETH locked in the Ethereum 2.0 deposit contract has skyrocketed to an all-time high of 7,837,922 coins. This is a slightly larger one million ETH than it was a little over a month ago – on August 16 – when the all-time high of 6,727,938 ETH was registered.

According to the website etherburned.info, in the third quarter of this year, a large amount of ETH was burned – 409,669 ETH, or $1,358,695,270.

ethereum-non-exchange-whales-now-hold-over-5x-more-eth-than-crypto-whales-on-exchanges1

Source: ethburned

The ETH burn mechanism was implemented as part of the EIP-1559 upgrade that went live on August 5 5. Today, the total number of Ethereum fees burned is 427,270.94 ETH. That equates to $1,417,761,355,90. In the past hour, 224.27 ETH was burned.

The burning mechanism is making Ethereum a deflationary cryptocurrency; therefore, many expect this to be another impetus for a significant increase in the price of Ethereum soon.

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