While things are looking a little bleak in crypto world, there may be signs of accumulation amid the bearish market.
Crypto-analytic platform Santiment found that Ethereum whale addresses holding one million or more ETH have added (collectively) 3.5 million more of the asset. This amounts to $4.55 billion in their bags.
This shoring up comes in the last month alone.
According to Santiment, the holding of this particular group of investors which spans 132 addresses has increased by more than 14%.
It’s a sign that the crypto world isn’t as beholden to market expectations as many experts have suggested it will be, and it will be interesting for investors to see what happens over the next few months as the rest of the crypto world begins to settle.