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- Whales are buying huge amounts of Ethereum (ETH) for investment in Decentralised Finance(Defi).
- Grayscale Ethereum Trust, the largest investment fund, had reportedly brought over 48% of the mined Ethereum.
- By locking up Ether in Defi one can earn balanced returns. The total amount of Ether locked in Defi at the beginning of this year had surged to an All-Time High.
With Ethereum staking just around the corner, there is a prediction that the Ethereum price will go comparatively high. This is because Ethereum whales are buying huge amounts of ETH for investment in Decentralised Finance(Defi).
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Finding #1 – How Much ETH is in the Top 10k Addresses?
The top 10k addresses represent 91.7M ETH.
The top 1k addresses represent 70.7M ETH.
The top 100 addresses represent 37.8M ETH.
The top 10 addresses represent 16.6M ETH.
Roughly 17% ETH is held by 10 addresses. pic.twitter.com/APmEKO0tPO
— Adam Cochran (adamscochran.eth) (@adamscochran) April 29, 2020
Grayscale Ethereum Trust, the largest investment fund, had reportedly brought over 48% of the mined Ethereum. Its website reports that it bought 756,000 ETH in 2020. This investment fund provides exposure to investors on the ETH price movements.
04/27/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $2.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/pXYOq8WxiA
— Grayscale (@Grayscale) April 27, 2020
With a heavy purchase that accounted for half the Ethereum, it is obvious to our understanding that large investors have recognized the potency ETH holds. And they are now seeking ETH as crypto suited for investments.
ETH locked in Defi surged to an All-Time-High This Year
And by locking up Ether in Defi one can earn balanced returns. The total amount of Ether locked in Defi at the beginning of this year had surged to an all-time high. The total value locked in Defi reached $1.2 billion in mid-February.
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Finding #31 – Doubling DeFi
While not many whales are involved yet, the amount of ETH whales have put into DeFi has more than doubled over the past 6 months, with them expanding their positions in all of the above projects except for Loopring, Melon and Augur. pic.twitter.com/kHFmTdPFsn
— Adam Cochran (adamscochran.eth) (@adamscochran) April 29, 2020
Furthermore, the amount of ETH investors have put in Defi increased twice as it was over the past 6 months. The amount locked currently stands at $838 million. Also bringing to notice, ‘ETH locked in Defi’ is a criterion used to measure the traction by industry observers.
To develop a familiarity with the Decentralized Finance (Defi), its vision is to enhance a global and an open alternative to financial services today. The best platform to access these services via a smartphone is on a smart contract blockchain, such as Ethereum. Smart contracts feature empowers developers to build applications featuring advanced functionality. In other words, they are basically programs referred to as decentralized apps that run on the blockchain and execute instinctively.
ETH Price at current accounts to $212. It has stood strong despite the COVID-19 that caused a gigantic market collision and that which brought huge volatility to its price.
Whether Eth will witness a rise in its price, only time will reveal. But as long as the Ethereum whales continue to show this trend of investments in Defi, there is no reason for despair. Also, at a time where the Ethereum staking is nearing, it is a good enough reason to be hopeful that ETH price will revolutionize.
