Are Ethereum whales preparing for unprecedented growth?
|Marek Feder|source|566x
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Are Ethereum whales preparing for unprecedented growth?

We mentioned Adam Cochran, a well-known cryptocurrency investor, and professor at Conestoga College, in previous articles. In addition to being a big cryptocurrency enthusiast, Adam is also known for posting long and very detailed analyzes of various cryptocurrencies on his Twitter. Just a few days ago, he described in detail the current situation around Ethereum and the future of this cryptocurrency he envisions. We bring you the most important points of the analysis.


Whales are stocking up on Ethereum. According to Cochran's analysis, whales have increased their ETH stocks by up to 4% (amounting to around $ 550 million over the past few months). Some of these whales are significant conglomerates. Cochran found that companies such as Microsoft, IBM, Reddit, Walmart, JP Morgan Chase, or Amazon began stocking up on Ethereum.

 

In addition to whales and well-known companies, Ethereum has become a center of attention of miners. In the last 6 months, miners invested up to $ 230 million in Ethereum. It is clear from their behavior that they are not only preparing for the transition to proof-of-stake but also have faith in this step and want to be part of it.

 

Despite the large number of people who have decided to accumulate and keep Ethereum in their wallets, there are still many active ETHs in circulation, and that is positive news. Up to 16.2 million ETHs have been used for transactions and smart contracts in the last 90 days. So, it can be said that despite the preparation for ETH 2.0 and the staking ahead, people are not afraid to use their ETH as a means of payment.

 

As for Adam Cochran, this is the third large-scale analysis in the last two weeks he has produced. It could be said that this is great news for Ethereum supporters. Only time will tell whether these forecasts will fulfill after the transition to proof-of-stake.

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