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# Massive on-chain Ethereum accumulation suggests firm prices ahead
- URL: https://btcpeers.com/massive-on-chain-ethereum-accumulation-suggests-firm-prices-ahead/
- Published: 2020-10-20T06:27:42.000Z
- Updated: 2023-09-24T16:06:29.000Z
- Author: John Williams
- Tags: News, #nicholas

Major holders of Ethereum are taking their tokens out of exchanges and putting them into private wallets at a rapid pace. This movement out of exchanges is happening at a time when Ethereum prices are relatively high, at least on a post-2018 basis. Leading [crypto](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) research firm Santiment has confirmed these market trends, and also stated that many of the accounts are held by large investors, sometimes known as 'whales'. Grayscale Investments, a crypto investment firm, has received a record amount of investments in 2020, and now holds 2% of the Ethereum available on the market.

Accordng to Santiment,

> *“$ETH’s top 10 whale exchange addresses have continued swapping their funds to non-exchange wallets, & moving holdings at an impressive rate. The 20.5% decrease in tokens on exchanges the past 2 months indicates price confidence by top #Ethereum holders.”*

**Why it matters:** There is clearly a shift happening in the crypto space. More institutional investors are entering the market, and this may explain part of the move towards longer-term holdings. If cryptos are becoming an asset class that is attractive to larger investors, there is likely going to be a substantial repricing of the sector on the upside. In addition to being positive for market psychology, more long-term holders effectively remove supply from the market, which could turn moderate buying into a big move up in prices. While there will always be selling in any market, 2020 may mark the time when the major tokens entered the mainstream.