Leading crypto analytics firm Santiment, largest non-exchange Ethereum (ETH) wallets are collecting the second-largest digital asset on record, he says.
Santiment says Ethereum wallets “establish an encouraging pattern” says.
The analysis firm notes that the 10 largest non-exchange Ethereum wallets now hold more than 41 million ETH for the first time. Additionally, it notes that the 10 largest exchange wallets currently hold only 8 million ETH, which is a six-month low.
“More and more coins continue to move to self-custodial systems.”
Koinfinans.com As we reported, ETH is trading at $2,085 at the time of writing this news. Additionally, it increased by 2.26% in the last 24 hours and approximately 13% in the past month.
But not all Ethereum metrics are bullish. Crypto trader Ali Martinez tells his 34,100 Twitter followers on social media platform X to pay attention to the Tom DeMark (TD) Sequential indicator.
The TD Sequential indicator is used by traders to predict potential trend reversals based on the closing prices of the previous 13 bars or candles.
Martinez says:
“TD Sequential’s track record speaks volumes! The accuracy of ETH in predicting price movements on the four-hour chart is remarkable.
Currently, it is giving a sell signal at a key resistance level. “If this signal proves correct, we could see ETH pull back and move towards $2,000.”
Despite its recent gains, ETH remains down over 57% from its all-time high of $4,878 reached in November 2021.