According to data from Santiment, the top 10 Ethereum wallets have increased their ETH balances since last year and hold 23.7% of the total supply.
"#Ethereum's top 10 #whale addresses hold 4.3% more of the total supply than they did one year ago today. The 23.7% of all $ETH held by these wallets remains very close to the 5-year high levels that it first breached in late January."
The increase in ETH in wallets is 4.3% compared to March 2021. 23.7% of the total ETH supply is currently held, pretty close to the 5-year high that wallets reached in January this year.
According to Glassnode, whales have recently sold off a staggering $1.4 billion in ETH from multiple crypto exchanges, compared to $739.7 million in ETH inflows. Thus, the net flow to the exchanges is -628.1 million dollars.
Ethereum price is $3,148.97 at the time of writing, with a 24-hour trading volume of $7,720,562,797, according to Coinecko data. ETH price has increased by 0.9% in the last 24 hours.
Tim Beiko, one of the ETH developers, made the date this time for the long-awaited difficulty bomb on Ethereum.
As it is known, the Ethereum Blockchain network aims to leave the Proof of Work consensus mechanism and switch to the Proof of Stake mechanism. The process, called “convergence”, that will merge the execution and consensus layers of ETH is already in its final stages.
Tim Beiko, one of the Ethereum core developers, reiterated in his blog post that the Kiln testnet is the last public testnet performed before the merger. Beiko stated that the Kiln testnet is currently being monitored step-by-step. Many projects such as Kurtosis, Tenderly, Lido, Uniswap, EthStaker, Infura and Blockdaemon are already testing their projects on the testnet and developers are fixing bugs they find.
Although there is no clear date for when the world's largest altcoin will clear the roughness in front of it and continue on its way, it has been learned that the difficulty bomb, which has been postponed for a long time, will come to life in the near future. Beiko predicted that the difficulty bomb will be launched from June, which will reduce the rewards of Ethereum mining. With this happening, the amount of newly produced ETH, that is, the amount of supply, will decrease.