According to the cryptocurrency analytics company Santiment, bearish price movement in the market hasn’t discouraged Ethereum (ETH) whales.

Santiment confirms that within 12 days, whale addresses that possess between 100 and 100,000 ETH have boosted their holdings by a notable 3.5%.

The market cap of the second-placed cryptocurrency has remained stable for a while now. Since July 2021, the percentage of Ethereum’s supply held by these whales is now at its highest level.