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🚨Elon Musk announced that Tesla will invest $10 billion in artificial intelligence this year to develop autonomous driving technology.

🚨Elon Musk announced that Tesla will invest $10 billion in artificial intelligence this year to develop autonomous driving technology.

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Ethereum Whales Raise $2.45 Billion Despite Market Drop. In the last three weeks, #Ethereum whales have added more than 700,000 ETH to their portfolio, which equates to approximately $2.45 billion. This accumulation shows that these large investors believe in the long-term value of Ethereum and see the recent price decline as a strategic entry point. This buying behavior signals strong confidence in the future of Ethereum despite recent market fluctuations and may contribute to the stabilization of its price. The recent increase in whale assets has had a noticeable impact on the price of Ethereum. Currently trading at $3,569.40, ETH's recovery from sub-$3,400 levels shows the impact of large-scale buying. However, this recovery was not enough to reverse the downward trend that has occurred since late May. Ethereum will need to build significant upward momentum to reach new highs. On-chain data analysis reveals a decline in Ethereum's network growth and transaction speed. Santiment data shows that new addresses interacting with #ETH are decreasing and trading activity is decreasing. This trend indicates declining interest among new investors even at low price levels, which could pose challenges for Ethereum's near-term growth. Recent whale accumulations represent confidence in the future of Ethereum, while declining Chaikin Money Flow (CMF) indicates that overall capital flows into ETH are decreasing. This mixed outlook suggests that Ethereum's price action in the near term will depend on whether the upward move can maintain its momentum despite bearish signals indicating a decrease in network growth and transaction speed. In summary, the significant accumulation of ETH by whales highlights the strong belief in the potential of Ethereum. However, declining network growth and transaction speed indicate fundamental weaknesses that could hinder short-term gains. A sustainable upward momentum and new capital flows will be essential for #Ethereum to establish a solid upward trend.
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