$ETH ETF review: negative factors & facts

- With Data from "Into the block", on May 28, a huge amount of ETH was recorded on the floor from #Binance  to #Coinbase, the most in the past 4 months with a value of up to 140,000 ETH - worth more than half a billion dollars.

-> Such a huge amount brings a negative signal with the possibility of increasing selling pressure, or preparing for some unpredictable fluctuations.

"But is there a more fortunate scenario for us?"

- Luckily YES, and that is supplementing the exchange's reserve supply, especially when ETH reserves on exchanges have reached their LOWEST level in the past 5 years!

"So where did the amount of $ETH withdrawn from the exchange go?"

- Of course, about different individual & organizational wallets, most notably the wallets with huge balances, specifically...

...wallets with balances between 10-10k and between 10k-100k $ETH, there has been a continuous increase in number.

-> With the above move, we can conclude that the big players, Whale, are still actively accumulating.

"So with ETH, where is the price range where it has been accumulated?" - The answer is the range from 3700-3810$ with 1.66m ETH (worth more than 6.2 billion USD) accumulated by more than 1.8 million different wallet addresses. And this is what will cause the selling pressure we initially mentioned to disperse.

- In a worse case scenario, the area around 3k5 with 1.5m ETH bought will absorb the selling force.

"At the same time, we mentioned the Whales through wallets with large balances, let's not forget their position on the Option side"

- With the data from the remaining image (above), many whales also expressed their views on ETH in the medium term with a minimum peak at the $5k price mark.

Source: Gia Cash Luong