The number of large Bitcoin wallets is growing again. According to Santiment, 90 addresses currently hold at least 10,000 $BTC, which is a six-month high. Over the past eight weeks, their number has increased by six, or 7.1%.
Analysts report that the balances of the smallest wallets are simultaneously shrinking. In August, retail traders' sentiment, in particular, was affected by the Coldcard hack and the delay in passing the CLARITY Act bill.
As a result, the share of Bitcoin held by small holders is decreasing, while the largest wallets are increasing their positions. Santiment believes that the shift in supply to large holders may indicate the market is preparing for the next significant movement.
Analysts note that this structure usually increases the likelihood of growth during the next major fluctuation.
Ethereum Activity Rises to Highest Since March
In Ethereum, 989,500 active addresses were recorded in the last 24 hours. According to Santiment, this is the highest level of daily network activity since March.
Meanwhile, the asset's price remains around $1,870. Analysts believe one possible catalyst for the increased activity is the resumption of inflows into spot Ethereum exchange-traded funds (ETFs).
Additional traffic is being generated by Robinhood Chain, which uses Ethereum for settlements. At the same time, interest in stablecoins, tokenized assets, and real-world assets is also supporting network usage, experts say.
Santiment notes that the current surge may indicate the activation of existing wallets, redistribution of capital, and renewed use of Ethereum infrastructure.
According to Bitfinex, the amount of staked Ethereum has risen to a record 41.7 million coins. This is approximately one-third of the asset's total supply. Moreover, the staking volume continued to increase even against the backdrop of Ethereum's price falling from $3,400 in January to around $1,900.
The number of large Bitcoin wallets is growing again. According to Santiment, 90 addresses currently hold at least 10,000 $BTC, which is a six-month high. Over the past eight weeks, their number has increased by six, or 7.1%.
According to analysts, the growth in the volume of staked coins does not lead to the depletion of rewards, which encourages a further increase in the number of coins being staked.
Earlier, CryptoQuant stated that Bitcoin could fall to $51,000 after forming a local top.
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