CDS Crypto News ETH Whales Reduce Trading Volume, Sparking Concerns of Further Price Drops
Crypto News

ETH Whales Reduce Trading Volume, Sparking Concerns of Further Price Drops

74
ETH Whales Reduce Trading Volume, Sparking Concerns of Further Price Drops

ETH Whales Activity Slows as the Price Falls Over 24% in One Month

ETH Whales Activity Slows as the Price Falls Over 24% in One Month

Ethereum, a popular alternative coin, has experienced a sharp drop in price. ETH has fallen more than 24.54% in the last month, with a current market price of $2,514. Within the last month, ETH whales have decreased their trading volume, as a result of the double-digit price reduction in ETH. The drop in the coin’s high transaction volume over the previous 30 days suggests this.

ETH Whales Activity Slows as the Price Falls Over 24% in One Month

The number of ETH transactions worth between $1 million and $10 million per day has decreased by 5% over this time, according to data from IntoTheBlock. The number of bigger transactions above $10 million per day has decreased by 45% concurrently. A further shocking development is the 77% decline in the net flow of major holders for Ethereum.

  • The variation between the quantity of Ethereum these whales purchase and sell over a given time frame is measured by the large holders‘ net flow.
  • The whale distribution signal—which is sometimes a bearish indication—is shown when the net flow indicator for large holders lowers.
  • Reductions in whale activity can have a detrimental effect on market sentiment. Therefore, this typically comes before additional price drops.

Is Ethereum Poised for a Sell-Off? SAR and MACD Indicators Say Yes

Is Ethereum Poised for a Sell-Off? SAR and MACD Indicators Say Yes

The Parabolic Stop and Reverse (SAR) indicator of Ethereum is set up on the one-day chart in a way that supports a negative perspective. At the moment, a downward trend is indicated by the indicator’s dots being above the coin’s price.

The Moving Average Convergence Divergence (MACD) of Ethereum is also exhibiting bearish indicators; the MACD line (blue) is getting close to crossing below the signal line (orange). Traders frequently view this crossover as a signal to consider selling or taking profits, as it usually indicates a strengthening downturn.

For more up-to-date crypto news, you can follow Crypto Data Space.

ETH Whales Reduce Trading Volume, Sparking Concerns of Further Price Drops
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Vitalik Buterin Unveils “Info Finance” to Revolutionize Data Collection and Sharing

Discover Vitalik Buterin's new concept of 'Info Finance' and how blockchain can...

Ethereum vs Bitcoin: What’s Next for the Crypto Market After Record Price Breaks?

Ethereum has surged past the $3,000 mark for the first time since...

Ether Bull Run Accelerates After Positive News from Fed and Trump Election Win

Ether Bull Run Accelerates After Positive News from Fed and Trump Election...

Ethereum Price Nears $3K as BlackRock ETF Sees Record Inflows

BlackRock’s Ethereum ETF sees record $60M inflows as ETH hovers near $3K—market...