Is Ethereum Doomed? Whales Have Sold 12M ETH In Past Year
On-chain data shows Ethereum whales have sold around 12 million in the cryptocurrency within the past year and have shown no signs of slowing down. Ethereum Whale Holdings Have Been In Constant Downtrend Since 2020 In a new post on X, analyst James V. Straten has discussed how the Bitcoin and Ethereum whales have shown some stark contrast in their behavior. Here is the chart that the analyst has shared, which compares the trends in the holdings of these humongous holders for the two assets over their entire history: How the holdings of the whales differ between the two cryptocurrencies....
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As earlier reported, Bitcoin holders have steadily held on to their coins in the past few months. Bitcoin whales, in particular, seem to be doubling despite the current uncertainty in Bitcoin’s future projection. Long-term holders add an average of 50,000 BTC to their wallets every month, as indicated by the HODLer Net Position Change indicator provided by Glassnode. Related Reading: Crypto Analyst: Bitcoin To Surpass Gold And Silver Within A Decade On the other hand, whales of Ethereum, the second largest crypto in the world, appear to be on a different trajectory. On-chain data....
Feelgood story of the season. Weird Whales is Benyamin Ahmed’s second NFT collection. This 12-year-old sold 3,350 8-bit style whales at 0.025eth per unit in less than a day. At the time of writing, that’s approximately $248000. Considering the NFT collection ’s budget was $300 in Ethereum gas fees, we could say that Ahmed’s in […]
On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average....
The 10-largest Ethereum whales have accumulated roughly $10 billion, but their investment behavior suggests some are still hungry. Apart from the amount of Ethereum that the whales hold, another defining characteristic of the group is its investment behavior pattern: It goes long on its assets and, probably, on the ecosystem itself. Neither have the whales sold any significant portion of ETH throughout the life of their addresses nor have they transacted with their ETH. Unsurprisingly, four out of the 10 whales bought more Ether in the last year. Covalent’s latest findings in Cointelegraph....
Ethereum whales have always been bullish on Shiba Inu. It is obvious in their purchase history that these whales with large ETH holdings are vying hard for the success of the meme coin. At various points in the past, they have been some of the biggest pushers of the digital asset, leading it through its […]