Ethereum (ETH) supply held by non-exchanges exceeded 25 million on Feb. 25, according to Santiment Insights.
The last time non-exchange wallets held over 25 million was in 2016, as Santiment Insights noted, indicating that the increase over the Feb. 25-26 weekend breaks a seven-year record.
ETH supply held by top addresses (Source: Santiment Insights)
The yellow area on the chart above represents the ETH supply stored on non-exchange wallets. The chart reflects a significant peak in supply on Feb.25, which pushed the supply nearly as high as 26 million. As of Feb.26, aggregated pool held by non-exchange addresses sit at 24.73 million.
Supply held on non-exchange wallets has steadily increased since September 2022. In the meantime, the amount of ETH stored on exchange wallets has been declining significantly since late October 2022.
Despite the increase in non-exchange addresses’ supply, the data indicates that the number of large whale addresses has declined since December 2021.
ETH Whale Addresses (Source: Santiment Insights)
According to the data, the number of whale addresses was almost 4860 in September 2021. As of Feb.26, this number is 1637, marking a 66% decrease.