You know how they say whales are disappearing due to climate change? Well, this change in the pricing of Ethereum has empowered more users to scoop up a bigger share of the pie, quite the opposite fortune.
Analytics website Santiment has revealed that the number of investors holding between 1,000 and 10,000 ETH has grown by 68 in just the first three days of September. This coincided with a price drop in the value of Ethereum, and so monetarily they aren’t better off, but they will be if a price rise is seen again.
It’s normal to see more people joining Ethereum, experts have noted. The decentralised finance market revolution has pushed up interest in Ethereum significantly. So much so, that to date, Ethereum remains the second-largest cryptocurrency in terms of pure market capitalisation.
Ethereum is estimated to be worth $39.7 billion and Tether (USDT) is next with $14.1 billion. Tether is also a currency that pegs its value to the US dollar and has been able to introduce a lot of stability insofar as price volatility is concerned.
Ethereum is also used in the best Ethereum casinos, including leading brands as Bitcasino.io, FortuneJack, and 1xBit. Having more whales, though, may not be too good for the supply, as rank-and-file stakeholders might feel pressured by so many big fishes trying to secure even bigger share of the market.
So far the Ethereum ecosystem is holding up well although the transition to Ethereum 2.0 has come with a broader discussion about the safety of the network.