Deep Diving with Ethereum Whales- Cointelegraph

The anatomy of Ether (ETH) whales, is being investigated by Covalent’s latest findings in Cointelegraph consulting biweekly newsletter.

However, with the largest Whale accumulating more than 25% of the capital, the data reveals that the top ETH-only whales consistently hold rough 5 million ETH. The wallet address of the largest Ethereum whale, much like the other seven whales in the ranking, is relatively young as they only started buying in 2019. 

Apart from the amount of Ethereum that the whales hold, another defining characteristic of the group is its investment behavior pattern: It goes long on its assets and, probably, on the ecosystem itself. Neither have the whales sold any significant portion of ETH throughout the life of their addresses nor have they transacted with their ETH. Unsurprisingly, four out of the 10 whales bought more Ether in the last year.

The largest whales in terms of the total value of assets held display a different pattern as nine out of 10 hold both ETH and ERC-20 tokens and have been actively trading different tokens since 2017. Their vast portfolios have also held assets, such as Uniswap (UNI), Wrapped Bitcoin (wBTC) and Binance Coin (BNB), which are popular ERC-20 tokens. 

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