Definition:
The number of distinct Ethereum addresses holding a minimum of 1,000 coins.
Ethereum addresses > 1K ETH could be called whales, because they own a significant amount of the asset.
For example: As of January 1st 2023, there were 6,570 unique Ethereum addresses holding a minimum of 1,000 BTC. The market closing value on that day was around $1,200, translating to a minimum value of $1.2 million per wallet.
In the photo below, you can see the number of Ethereum addresses holding 1,000 ETH or more since 2016. At it's peak, there were over 8,000 addresses that held over 1,000 ETH.
What to watch for:
Buy into weakness: Whales tend to accumulate positions during or shortly after market lows, when prices are at their lowest. As prices fall, the number of whales tends to increase.
Sell into strength: Whales tend to liquidate their positions during or shortly after market highs, when prices are at their highest. As prices rise, the number of whales tends to decrease.
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