Top Three Crypto Assets Held By The Largest Ethereum Whales

Want to know where the largest whales are swimming? It may surprise you. Oftentimes we hear about whales moving and shaking the market. They can be both a negative and positive force. The beauty of the blockchain is we can see with certain confidence what the largest whales are keen on and when they are […]

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Ethereum Whales Quietly Filled Up On ETH While Broader Market Panicked

Ethereum crumbled with the market during the last crash and is yet to recover to previous levels. The crash was characterized by sell-offs and liquidations from all angles, which continued even when the price dumped further. Fear of a bear market sparked this as investors wanted to get out before the price fell further. But not everyone followed this trend of dumping. Whales have always been known to move differently from smaller investors when it comes to the crypto market and this time was no different. While investors panic sold their holdings at low prices, these whales quietly gobbled up the ETH being dumped on the market, increasing their dominance in the market once again. Whales Fill Up On ETH In the last few weeks, whales have taken advantage of the declining market values to buy cryptocurrencies at what can be essentially said to be a discount. The price of Ethereum had dumped as low as $2,100 following the crash, leaving even more room for the whales to increase their holdings. Smaller investors had followed suit but only after whales had bought hundreds of millions of dollars worth of ETH. Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC During this time, the number of addresses holding more than 10,000 ETH on their balances had also increased significantly. These whales had altogether purchased more than $500 million in ETH in only a couple of weeks. ETH recovers to $2,400 post-crash | Source: ETHUSD on TradingView.com This renewed support from whales and smaller investors had worked to slow down the decline of the digital asset. But proved to be not enough to spark a rebound back up to previous values. Despite growing support from these large investors, the market has remained in extreme fear, pointing to intense wariness from investors. This has caused them to hold back from putting any more money in the market. Ethereum Struggles To Stay Afloat Since the crash towards the low $2,100, Ethereum has had a hard time recovering in the market. While a bounce-back that was triggered by pioneer cryptocurrency bitcoin saw it recover above $2,400, it has not recorded much in the way of upward momentum since then. Related Reading | Which Cryptocurrencies Suffered The Worse Collapse Since All-Time Highs? Indicators point to the week playing out with continued low momentum for the second-largest cryptocurrency by market cap. It had previously tested the $2,700 point on Wednesday but had promptly taken a beating down that brought it back to $2,400. ETH is trading below its 5-day, 20-day, 100-day, and 200-day moving averages for the first time in a year. Market sentiments remain bearish with more downtrend expected to come as support from whales taper off. As of the time of writing, the digital asset is trading at $2,461, down 2.97% in the last 24 hours. Trading volume is up significantly over the same time period but is yet to translate into a higher value for the asset. Featured image from Nairametrics, chart from TradingView.com

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Supersize McShib: Shiba Inu the largest ERC-20 holding among ETH whales

According to data from WhaleStats, the 1,000 largest ETH wallets hold $2.35 billion worth of SHIB combined, representing around 9% of the total market cap.

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Ethereum: 108,000 ETH Sent To Crypto Exchanges, Will Price Revisit $2,200?

Ethereum (ETH) has seen a 10.3% drop from last weeks highs following the recent market downturn. Its performance has worried many analysts and investors, considering ETH could be near another correction. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Ethereum Whales Send Millions To Exchanges Ethereum has struggled to reclaim some key resistance levels since the October 1 correction. On Tuesday, the cryptocurrency saw its price nosedive from the $2,600 zone to the $2,300 mark, hovering between the lower and higher range of that support level for the past few days. Since then, news of multiple investors moving their tokens has hit the industry, alarming the community. On-chain analytics firm Lookonchain revealed that an Ethereum Initial Coin Offering (ICO) participant sold their tokens as the market bleed. Per the report, the whale deposited 12,010 ETH, worth $31.6 million, to Kraken a week ago after being inactive for two years. The same address sold another 19,000 ETH two days ago, around $47.54 million. Today, crypto analyst Ali Martinez highlighted that on October 3, roughly $259.2 million worth of ETH had been sent to crypto exchanges. According to the CryptoQuant data shared by Martinez, 108,000 ETH were sent to exchanges in the last 24 hours, significantly increasing from the day before. The news continued to fuel the bearish sentiment among many community members, who are disappointed about Ethereums performance and fear ETHs price could soon face significant selling pressure. Will ETH Revisit Lower Levels Soon? Crypto investor Ted Pillows noted that ETH has been one of the most underperforming cryptos in 2024. Despite the approval of Ethereum spot ETFs (exchange-traded funds), the crypto has “underperformed almost every large cap.” He also pointed out that ETH surged alongside Bitcoin whenever the market was up but dropped significantly harder when the market struggled. Whenever BTC has pumped 5%, ETH has pumped 3%, but whenever BTC has dumped 5%, ETH has dumped 12%-15%, he remarked. However, Ted explained that every time Ethereum was considered dead, like in 2020-2021, it has eventually outperformed BTC. Based on this, the investor believes that the king of Altcoins could face one last flush to $2,200 before the reversal. Similarly, trader Crypto General suggested that the cryptocurrency could retest the $4,000 by next month as he expects ETH to bounce from the current levels. However, he asserted that if the price breaks the trendline, we can easily see the price touching the $2100 level. Related Reading: Aptos (APT) Jumps 11% Following Acquisition Of Japanese Blockchain Developer HashPallette Other market watchers pointed out that Ethereum must reclaim the $2,400 resistance level to see a potential bounce toward $2,800. Previously, Daan Crypto Trades set the $2,850 resistance level as one of the key levels to watch. The analyst considers that reclaiming this level would signal a trend reversal for the cryptocurrency. This zone corresponds with the horizontal level that started the February-March run to ETHs yearly high of $4,090. As of this writing, ETH has seen a positive price jump, currently trading at $2,431. This performance represents a 4.3% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Ethereum Whale Transactions Jump Over 50% As ETH Eyes $2,000

Ethereum whales have been ramping up their activities on the blockchain as it eyes an important level. This time around, their recent spike in activity has been in the form of transactions. These whale transactions which are carrying at least $100,000, making it so only large holders could be behind the transactions, have been on the rise. Mostly, the Ethereum whales ramped up their activities following ETH’s price increase over the last week. The first spike was noticed after the crypto broke above $1,900 and as it has continued to maintain this level, there has been more consistency among the whales. Related Reading: Maker (MKR) Outperforms Top Coins With 12% Increase A Day, Will It Test $1100? IntoTheBlock data shows that ETH whales have doubled their transaction counts over a few days. This increase saw their total transactions go from 2,120 to 3,230 in two days. This jump in number of transactions translates to an over 54% increase in just 48 hours – from July 2 to July 4. In a 7-day period, almost $20 billion has been moved by ETH whales. ETH whale transactions cross 3,000 in two days | Source: IntoTheBlock However, while this jump is significant in its own right, it is not unusual for Ethereum to see such a high number of large transactions. For example, toward the end of June, the total whale transactions had also spiked above the $3,000 level. Ethereum’s holder base is made up of a high number of whales when compared to its largest competitor Bitcoin. While the latter’s whale holders only make up 11% of the total holder base, Ethereum whale wallets account for 42% of its total wallets, according to data from IntoTheBlock. Hence, a high volume of large transactions happening in a short period is not out of place. How The Ethereum Whales Can Affect Price A high number of whale transactions can have significant impacts on the price of coins like Ethereum depending on what the holders of these coins intend to do with them. If these transactions carrying at least $100,000 worth of coins are for selling, then the price of ETH would see a downtrend. Related Reading: Bitcoin Could Soar To $140,000 In Next Bull Cycle, Crypto Analysis Channel However, since the price of ETH has remained relatively stable and maintained its hold on the $1,900 support, then it is likely that these whales are just moving their coins around without selling. Additionally, these on-chain transactions do not point toward a good volume of ETH flowing toward centralized exchanges, further giving credence to the fact that these whales are not moving their coins for selling purposes. Ethereum, on its own, has not had the best of days though as its trading volume is down significantly from Monday. It is currently sitting at $6 billion, a 27% decline from Monday’s figures. Nevertheless, its price is holding steady with meager gains of 0.1% as the coin trades at a price of $1,963. ETH price trending at $1,962 | Source: ETHUSD on TradingView.com Featured image from iStock, chart from TradingView.com

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