Ethereum’s whale transactions hit a high as price dips, hinting at possible accumulation.
Surge in new wallet creations suggests growing interest from retail and institutional investors.
Increased trading volume and volatile price movements reflect cautious market sentiment.
Ethereum saw a surge in whale transactions, reaching a six-week high as its price dropped to $2,380 on Friday. This rise in large transactions suggests a potential shift in the market, though its impact on Ethereum’s price recovery remains unclear.
Ethereum's whale activity spiked to a 6-week high as its price declined as low as $2.38K Friday. Historically, this is a sign of accumulation from high capital key stakeholders. Though not a guarantee this will have an immediate effect on prices bouncing, it is encouraging! pic.twitter.com/zcofdvszLF
— Santiment (@santimentfeed) October 26, 2024
Data from Santiment shows a rise in transactions over $100,000, coinciding with Ethereum’s recent price fluctuations. Increased whale activity brought increased volatility, with large candlestick movements on the Ethereum price chart.
This six-week high in whale transacti…
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