Small Eth Wallets Rise, Smart Money Declines
CryptoNewsTerminal Staff21 May, 2024
Small Eth Wallets Rise, Smart Money Declines
The number of small wallets holding less than 10 ETH continues to rise, according to on-chain analytics platform Santiment. The firm shared the data via Twitter, adding that the count of ETH small wallets is now ~121.74M, marking an all-time high. In contrast to small wallets consistent growth, smart money wallets (institutions or knowledgeable individual investors looking to capitalize on short-term price swings) holding 10-100k ETH have declined by -5.8% and large whales (100k+ ETH) by -10.6% over the past year. The rise in small wallets may be a sign that more retail investors are entering the market, while the decline in smart money and whale wallets may indicate that these investors are taking profits or moving to other assets.
