While the sideways movement in the cryptocurrency markets continues, the transfers made by Ethereum (ETH) whales may indicate that volatile movements are approaching.
Data analysis platform Whale Alert According to the transaction details provided by Ethereum whales in the last 24 hours 250 million dollars transferred the asset to different wallets. The largest single transaction $136 million It was recorded as a transfer of assets worth about 100 thousand ETH from a whale wallet to exchanges.
analytics platform CryptoQuant Considering the data provided by the company, there may be significant fluctuations in the prices of cryptocurrencies after such large sums of money transfers. In the data showing the correlation of money inflows to exchanges and ETH price, it can be seen that ETH price decreases during periods of increased cash inflows and increases when spot ETH inflows increase. While spot Ethereum transfers have increased in recent days, the cash inflow has increased. low to watch an indication of a possible uptrend it could be. These transactions, detected by the Whale alert, may be a harbinger of a rise, but on the other hand, they may also be part of the price manipulation method of ethereum whales. At this point, after a misleading upward movement, downward movements may continue with a rapid withdrawal in the same place.
However, according to the latest report published by on-chain research company Bankless, considering its overall performance during the year, Ethereum is in the average daily active address count. 3.08% increase it seems to happen. In addition, the total number of Ethereum staked Merge It is reported to have increased significantly after the update. On the other hand, the data provided by Bankless shows that Ethereum network revenue decreased by 86% and inflation data on supply 7.7% appears to be increasing.