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It's Big & Big #WhalesBuying of $574 Million in $ETH !!

Ethereum Investors Buy $574 Million Worth of ETH: Price Impact

Twelve new crypto wallets collectively withdrew 156,733 Ethereum (ETH), worth approximately $574 million, from Coinbase.

This transaction occurred at an average price of $3,664 per ETH.

However, despite this accumulation, the price of Ethereum has been struggling.

Will Ethereum Price Drop 7%?

According to data from the on-chain analysis platform Spot On Chain, 11 of these 12 crypto wallets withdrew about 13,059 ETH. Notably, one crypto wallet – 0xdfa, withdrew a slightly higher amount, 13,084 ETH.

Concurrently, Ethereum’s availability on crypto exchanges has decreased significantly, reaching a seven-year low, as reported by the on-chain data from Glassnode. Lark Davis, an experienced crypto investor, shed light on this trend.

“ETH supply on exchanges is at a 7-year low. Ethereum ETFs are about to cause a massive supply shock. As a result, the price of ETH could skyrocket

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