Ethereum Whales Stand Their Ground Amidst Price Dip, Transact 3.50 Million ETH
whales have demonstrated their unwavering faith in Ethereum’s long-term prospects
Despite the recent market downturn, Ethereum whales have remained steadfast in their support for the network. In the past 24 hours, they have transacted a staggering 3.50 million ETH, showcasing their confidence in its underlying technology and future potential.
A closer look at the data
- According to WhaleStats, the top 100 Ethereum whales now hold a collective 19.43 million ETH, representing approximately 14% of the total supply.
- The largest Ethereum whale currently holds 1.90 million ETH, while the tenth-largest whale holds 1.17 million ETH.
- Over the past 24 hours, whales have made several significant transactions, including an inbound transfer of 1.00 million ETH and an outbound transfer of 500,000 ETH.
possible explanations
There are several possible explanations for the recent surge in whale activity. One possibility is that whales are taking advantage of the lower prices to accumulate more ETH. Another possibility is that they are preparing for a potential bull run by positioning themselves in advance.
a positive sign for the future of Ethereum
Regardless of the reasons behind their actions, the whales’ continued support for Ethereum is a positive sign for the future of the network. It suggests that they believe in the long-term potential of the project and are willing to invest accordingly. This is a reassuring sign for retail investors who are looking to invest in Ethereum, as it indicates that the whales are confident in its future prospects.
Kind regards
S. de Vries
