Ethereum has seen a surge in interest among large investors as it surpasses its three-month price high of $2.800.
EthereumETHThe price of, which is currently trading at around $2.800 has increased by 8% within the past 24-hours. Market cap of the leading altcoin has surpassed $336 billion. The daily trading volume of the leading altcoin increased by 27 percent, to $38 billion.
ETH reached a high local of $2.870 earlier today. However, the price quickly corrected due to profit taking.
Whale transactions accompanied the ETH price increase. According to data provided by IntoTheBlock, Ethereum recorded a 60% surge in the number of large transactions, worth at least $100,000, on Wednesday, Nov. 6—reaching a three-month high of 7,270 unique transactions.
ITB data shows that the largest holders of Ethereum yesterday moved more than $8.7 billion in ETH.
In contrast, the ETH whale accumulation slowed over the past seven days. ITB data shows that the net large-holder inflow of the asset has declined since Oct. 31, from 91,300 to 5,930.
As the U.S. market has fueled the recent surge in the cryptocurrency markets, the declining whale activity may indicate uncertainty among Ethereum Whales. presidential election news.
The majority of the ETH stock is in the hands of whales. It’s important to note that 53% of the ETH supply is sitting in whale addresses. whales If you start depositing money into exchanges it may soon cause another phase of uncertainty, fear and doubt. FUDRetail investors are a growing group.
ITB data shows that the Ethereum Exchange net inflow has dropped from 71,720 to 4,170 yesterday. This is a dramatic drop compared to Tuesday when it was 71,720.
Currently, 71% are making a profit. ITB data shows that 74% have held ETH more than a year. A moderate profit scenario is considered to be normal.
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Source: crypto.news
