According to Santiment, the top 10 #ethereum  wallets currently own 120.15 million ETH. This amount of Eth is equivalent to 34.6% of Ethereum's total supply.

Over the past 5 years these 10 wallets have accumulated 27.86 million ETH worth about $51.6 billion.

According to Etherscan, Beacon is holding 27,984,650 ETH or 23.3% of the total supply.

Other addresses with significant holdings include addresses denominated in Wrapped Ethereum (wETH) with 3,361,754 ETH (2.8%) and “Binance 7” with 1,996,008 ETH (1.7% ).

Chart analysis shows that the largest wallets belong to entities, not individuals. However, this does not negate the existence of ETH whales.

According to Glassnode, ETH active supply is at a five-month high of 10,018,878,755 ETH. This shows that the coin is actively circulating among traders.

Whale #ETH is accumulating at the same time that legal challenges are mounting. The main challenge is about classifying digital assets as securities or commodities.

Due to the decentralized nature of public ledgers, cryptocurrencies are difficult to classify, and ongoing debates about their classification continue.

In a CNBC interview on August 10, Joseph Lubin, CEO of ConsenSys and co-founder of Ethereum, shared his views on the commodity status of ETH and crypto assets.

As #SEC 's lawsuit initially affected the price of #bitcoin and Ethereum, the community is waiting for more clarity on the legal status of ETH and the potential impacts on market. $ETH