Analysts at Lookonchain reported large purchases of Ethereum. According to their data, over the past week, large holders of the altcoin have replenished their crypto wallets by more than $800 million.
One such address, 0x9684, bought 27,806 ETH on FalconX a few hours ago for about $85.57 million. In total, over the last four days, the 'crypto whale' has acquired 68,141 ETH for $213.8 million.
Similarly, the wallet 0x35fb has acquired 80,312 ETH worth $252 million over the last six days. In the last 24 hours, the investor bought altcoins on Kraken worth $25.17 million. Another buyer, 0x3c9E, has accumulated 26,000 ETH worth $73.45 million over the past 12 days.
SharpLink has added another 6,377 ETH to its assets, with the purchase costing $19.56 million. Just in the last seven days, the organization has accumulated a record 91,330 ETH worth approximately $275 million.
Thanks to such activity from 'crypto whales,' the dominance of the leading altcoin is increasing. According to analyst Rekt Capital, for the first time since March 2020, Ethereum's dominance in the crypto market has exceeded 10%.
Ethereum's dominance in the market has surpassed 10% for the first time since March 2020 in an upward trend, an expert wrote on social media.
Usually, in previous cycles, such a change in dominance preceded a larger altcoin rally and growth of its ecosystem.
