The Ethereum network’s largest whales currently hold a record high of $241.635 billion in ETH, as reported by the latest on-chain data from crypto analytics firm Santiment. The top 100 non-exchange Ethereum whales possess a total of 68.39 million ETH tokens, while exchange wallets have seen a decrease.

According to Santiment, the top 100 Ethereum wallets on exchanges have dropped below their May 2018 all-time low, now holding only 8.41 million total ETH. This indicates a trend of increased distribution over time. On the other hand, the top 100 non-exchange wallets are telling a different story, holding an all-time high of 68.39 million ETH.

Ethereum is currently trading at $3,566, while Bitcoin’s sentiment is uncertain, with the largest crypto asset by market cap still in a downtrend. Santiment suggests that social media mentions of “selling” or “taking profit” often align with price bottoms or the start of rallies.

As BTC continues on a downward trajectory and sentiment remains low, Santiment sees a potential opportunity to accumulate Bitcoin as fear and panic among small traders increase. The firm notes that after Bitcoin’s drop to $65,000, spikes in mentions of “selling” or “taking profit” are common, potentially creating a temporary bounce and buy opportunity.

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