According to data provided by the market intelligence platform Santiment, the activity of Ethereum (ETH) billionaires has been consistently declining. On August 1, Ethereum billionaires completed 3,976 transactions worth at least $100,000 each.

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At the time of writing, Santiment had only recorded 744 such transactions in the preceding twenty-four hours. Similarly, the number of transactions involving at least $1 million worth of ETH has decreased from 672 on the first day of the month to 95 at the time of writing.

The ETH whale nd4.eth, on the other hand, sent 2,500 coins to a defunct wallet after his "girlfriend" purportedly "cheated on him." Currently, the incinerated tokens are worth over $4.5 billion. On-chain data reveals that nd4.eth continues to hold 32 distinct crypto assets and a CryptoPunk NFT, with a total value of approximately $196,000.

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In addition, Santiment data indicates that the quantity of Ethereum supply outside of exchanges has reached new all-time highs consistently since March. According to the data, 35.9 million coins are accumulating in non-exchange addresses, indicating a long-term trend.

In the past week, Ethereum has been consolidating between $1,825 and $1,880. At the time of writing, the value of the asset is close to $1,830, up 0.2% over the previous twenty-four hours. The upward momentum is a result of ETH's 24-hour trading volume increasing by 25% to more than $3.5 billion.

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