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ETH Heads Top Holdings, Are HODLers Prepping for a Big Pump?

Cryptocurrency May 05, 2022 07:30AM ET
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ETH Heads Top Holdings, Are HODLers Prepping for a Big Pump?

    • Ethereum (ETH) leads as the most held tokens of the top 100 ETH wallets today.
    • ETH has over $585 million in the average amount held and almost 200,000 ETH in average quantity held.
    • Analysts predicted that the ETH price could reach more than $12,000.

Ethereum (ETH) leads as the most held tokens of the top 100 ETH wallets today, according to WhaleStats’ leaderboard. Are the holders bracing themselves for a huge price pump?

Investors continue to HODL Ethereum as the second-best cryptocurrency after Bitcoin (BTC) leads the list. According to the whales analytics tracker, ETH has over $585 million in the average amount held and almost 200,000 ETH in average quantity held.

ETH is followed by SHIB, with over $10 million worth of the average amount held and $470 billion in average quantity held. Following after, FTX Token (FTT) sits at third with an average amount held of almost $9 million. FTT has an average quantity held of over 225,000 tokens.

Circling back to the top token on the list, ETH has a token value of more than $2,930 at the time of writing. Presently, ETH enjoys its position in the green market and is up by 4.1% in the last 24 hours.

Following a huge dip in price below $2,800 last weekend, ETH still showed a whopping 700,000% lifetime ROI on Monday. With an annualized rate of almost 300%, it is no surprise that holders are tracked doubling down on their investments.

While analysts have claimed that ETH will be more volatile than BTC due to the upcoming Ethereum Merge, some said that the token’s price could potentially spike to more than $12,000.

As compiled by Next Advisor, experts predicted three scenarios for Ethereum’s price. First, some claim that ETH could once again break $4,000 this year, with a Bloomberg analyst even predicting a price up to $4,500.

Meanwhile, if the same bullish upswing that started mid-last year continues, a crypto news site predicted that the ETH price could rally between $6,500 and $7,500 before 2022 ends.

Lastly, the same media platform boldly predicted that the price could even go higher than $12,000 once the Merge happens, wherein Ethereum will switch its technology to a more environment-friendly version (PoW to PoS).

Furthermore, the analysts claimed that the Merge will make ETH more affordable for users to mint. Similar to what CoinQuora reported earlier, the Merge could also make acquiring ETH much easier compared to mining.

Regardless of these predictions, investors are still advised to proceed with due diligence and invest with great caution.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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ETH Heads Top Holdings, Are HODLers Prepping for a Big Pump?
 

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