Big investors are loading up on Ethereum (ETH), and it could be a sign that the crypto market is about to rebound.
According to crypto data company Santiment, the number of new Ethereum wallets created by whales (big investors) has reached a six-week high. This is a strong indicator that these investors are accumulating ETH, even as the price dips.
What’s fueling this potential bounce?
Santiment points to a few factors:
- Increased Fear, Uncertainty, and Doubt (FUD):
The market is currently experiencing a lot of volatility, which can lead to a bounce as investors react to the uncertainty.
- Memecoin Hype: Memecoins like Solana, Jito, Cosmos, and Jupiter have been gaining attention, which could be drawing investors back into the market.
What does this mean for the future of Ethereum?
While this activity doesn’t guarantee an immediate price jump, it’s a positive sign for Ethereum. Santiment believes that the market could bounce back in the coming days.
Remember:
This is just one perspective, and the crypto market is always unpredictable. Do your own research before making any investment decisions. /p>
