Happy Monday, Blockfolians!
Last week, we discussed the continued growth in bitcoin whales, despite (or perhaps because of) short term price declines.
This week, the story is all about ETH whales. The number of addresses holding 10,000 or more ETH hit a 13-month high on Saturday according to Glassnode. Currently 1,103 addresses hold more than 10k ETH.
More important than the total number is the trajectory. 35 new ETH whales this month and 75 since November.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
Highly Relevant Reading
Bank of Singapore says crypto could replace gold as a store of value
Russian officials banned from holding crypto
Grayscale has made a $1M donation to Coin Center
Chengdu is up next for a digital yuan test, giving out $8m worth
A fascinating insider’s look at the state of crypto VC
What do you think of this debate?
Arthur @Arthur_0xThat moment when you realize the total addressable market size of productive/cashflow generating assets aka DeFi crypto are way bigger than non-productive SoV like gold. https://t.co/12VbXRJP1u
A Really Big Number We Should Be Paying Attention To
That’s the amount of Bitcoin NASDAQ-listed crypto mining company Marathon just bought
Thoughtful stuff here from one of the best podcast hosts out there