Whales Moving ETH Holdings To Exchanges, Is Crash Below $1500 Imminent?
A Drop Below $1500 On ETH Price? These back-to-back transfers have ignited discussions about potential market implications and the motives behind these substantial movements. Also, concerns have arisen that heightened whale activity might exert downward pressure on the price of ETH , possibly leading it to breach the $1,500 level. Presently, the ETH coin price is trading at $1,647.75, experiencing a minor drop of less than 1% over the last 24 hours. Its market capitalization of $198.05 billion. advertisement Even though the above data signals that Whales are getting rid of their ETH holdings, an interesting trend emerged during the recent market downturn. While smaller traders were offloading their holdings, prominent players within the crypto landscape were seen accumulating ETH . This accumulation has led to an increased concentration of ETH supply, with the top 10 addresses now controlling more than 35% of the total supply. However, this elevated concentra...