A New Whale Emerges A mysterious Ethereum whale has been on a buying spree, snatching up over $405 million worth of ETH since March 31st. Justin Sun Connection? The blockchain research firm Lookonchain suspects that the whale may be none other than Tron founder Justin Sun. This is based on similarities in activity between the…
The crypto market has been a rollercoaster lately, and Ethereum (ETH) is no exception. But there are some key metrics that can give us clues about where ETH might be headed. Bullish Signs Investors are optimistic: Most Ethereum investors are still betting on it going up in the long run. Whales are buying: Even after…
Skepticism Grows As the May deadline for Ethereum Spot Exchange-Traded Funds (ETFs) approaches, skepticism is growing. Nate Geraci, president of ETF Store, believes the SEC is unusually quiet about the ETFs and suggests they may not be approved due to less engagement with issuers. Behind-the-Scenes Activity? Some speculate that discussions may be happening behind closed…
Accumulation Phase Ethereum investors are actively accumulating the cryptocurrency, with over $500 million worth of ETH withdrawn from exchanges in the past week. This outflow is the highest since February, indicating that investors are confident in Ethereum’s long-term value. Whale Activity Whale transactions have also increased, with outflows from exchanges exceeding inflows. This suggests that…
Ethereum (ETH), the crypto giant, is experiencing a mix of good and bad news. USDT Inflow: A Sign of Hope? Tether, the issuer of the popular stablecoin USDT, recently transferred a massive $318 million worth of USDT to Ethereum exchanges. This suggests that investors may be anticipating increased demand for USDT, which could lead to…
Revenue Model Ethereum generates revenue by charging transaction fees to users. These fees are burned, reducing the supply of ETH and increasing its value. The blockchain also issues new ETH as rewards to validators, but this dilutes the holdings of existing ETH owners. Reduced Transaction Costs The Dencun upgrade and the introduction of blobs reduced…
Strategic Accumulation As Ethereum’s price dipped, “whales” (large investors) jumped at the opportunity to buy. One whale, known as “0x435,” spent a whopping $70 million to acquire 23,790 ETH at a price of around $2,930. Timing is Everything The whale’s actions were part of a broader trend of Ethereum accumulation by large holders. On-chain analytics…
Market Downturn Ethereum, like other cryptocurrencies, has been hit by a price drop due to rising tensions in the Middle East. Whale Accumulation Despite the panic selling by retail investors, “whales” (large investors) are buying Ethereum at low prices. Specific Whale Transactions One whale withdrew 62,141 ETH ($202.6 million) from Binance in the past five…
SEC Silence Raises Concerns The highly anticipated approval of spot Ethereum exchange-traded funds (ETFs) in the US is facing a setback. Jan van Eck, CEO of VanEck, believes the SEC is likely to reject their application due to the agency’s lack of communication. Bloomberg Analyst Downgrades Odds Eric Balchunas, a Bloomberg ETF analyst, has lowered…
Ethereum’s Decline Against Bitcoin Trading expert Peter Brandt has weighed in on the recent decline in Ethereum’s value against Bitcoin. He suggests that the ongoing drop could be a “bear trap,” meaning it may entice sellers to short Ethereum, only to see it reverse unexpectedly. Bullish Signals Amid the Downturn Despite the decline, bullish signals…
