The Whale’s Big Trade An Ethereum whale made a savvy move last year, buying 12,906 ETH for $24.39 million. Fast forward to today, with Ethereum trading at $3,100, that investment is now worth over $40 million, netting the whale a cool $16 million profit. Staking Rewards Boost But wait, there’s more! The whale staked those…
Ethereum, the second-largest cryptocurrency, has been facing uncertainty after a sharp price drop. Investors are worried as whales (large investors) are selling their Ethereum. Ethereum’s Struggles Ethereum’s price has been volatile, reaching highs in late 2021 but then crashing. It’s now hovering around $3,077, far from its peak. This is making investors, especially whales, nervous….
Declining Network Activity Dampens ETH Burn Ethereum’s burn rate has hit a yearly low in April due to a drop in network transaction fees. This means fewer ETH coins are being destroyed, which could impact Ethereum’s deflationary model. Layer 2 Solutions and Innovations Lower Gas Fees The migration of network activity to Layer 2 solutions…
Analyst’s Forecast Crypto analyst Benjamin Cowen believes Ethereum (ETH) has yet to hit its lowest point against Bitcoin (BTC). He draws parallels to the market in 2019, when a bounce in the ETH/BTC ratio preceded a rate cut by the Federal Reserve (FED). Cowen predicts that the ETH/BTC ratio will bottom out when the FED…
Ethereum (ETH), the second-largest cryptocurrency, has shown signs of life by rising above $3,300. This move may indicate a trend reversal for ETH, supported by several bullish signals. Bullish Chart Indicators MACD: Signals have reversed upward, indicating an end to the decline. Ethereum Dominance: Confirmed three bottoms and rebounded strongly. Notably: Ethereum’s price rebound has…
Ethereum, the second-biggest cryptocurrency, has seen its transaction fees plummet to a record low of $1.12. Fees as a Market Mood Indicator Crypto analysts believe that transaction fees reflect the overall sentiment in the market. When investors are bullish and expect big gains, fees tend to be higher. Conversely, during downturns, fees drop. Low Fees:…
Ethereum investors are making moves to protect their investments amid market uncertainty. Large-Scale Withdrawals In the past week, a whopping 260,000 ETH (worth $800 million) has been withdrawn from centralized exchanges. Exchange Deposits vs. Withdrawals Exchange deposits and withdrawals indicate investor sentiment. Large deposits suggest selling intentions, while withdrawals suggest accumulation. Bullish Implications The mass…
Anticipated Decision Ethereum (ETH) has taken a 5% hit in the past day due to speculation that the SEC will reject upcoming spot Ethereum ETFs. US Bitcoin ETF issuers expect the SEC to deny their applications, based on recent meetings that were reportedly “one-sided.” SEC’s Concerns The SEC has not provided specific reasons for its…
Justin Sun’s ETH Accumulation Tron founder Justin Sun has been on a buying spree, accumulating 127,388 ETH (over $400 million) since April 8th. This suggests that Sun is bullish on Ethereum despite its recent price fluctuations. Sun’s Previous ETH Purchases Lookonchain, an on-chain analytics platform, believes the wallet used in these purchases likely belongs to…
Open Interest: A Sideways Trend Ethereum’s Open Interest, the total number of derivative contracts open, has been hovering at low levels after a sharp drop during the recent price decline. This suggests a cooling down in the futures market. Funding Rate: A Shift to Negative The Ethereum funding rate, which tracks fees paid between derivative…
