The post Whales Are Away In Ethereum But OI At ATH, Is More Rise Possible? appeared on BitcoinEthereumNews.com.

Amid the major developments encircling the potential possibilities of spot Ethereum ETF approval, and bullish On-chain metrics. Ethereum Co-founder Holds a Large Amount on Kraken, What Does it Signify? Ethereum co-founder Jeffrey Wilcke deposited 10,000 $ETH worth $37.38 Million to Kraken at the spot price of ETH at $3,738, as per the data shared on X from SpotOnchain. #Ethereum co-founder Jeffrey Wilcke (@jeffehh) deposited 10,000 $ETH ($37.38M) to #Kraken at $3,738 ~2hrs ago. Since the start of 2024, he has deposited 24,300 $ETH to Kraken at ~$3,108 ($75.52M), with the last deposit done before the price started to soar! Currently, Jeffrey… pic.twitter.com/sERRId8yfj — Spot On Chain (@spotonchain) May 23, 2024 The tweet also stated that, since the start of 2024, Jeffrey has deposited 24,300 ETH in total to Kraken at $3,108 worth $75.52 Million, with the last deposit done before the price started to soar. As per the tweet, Jeffrey Wilcke still holds 126K ETH worth nearly $473 Million, a large amount of Ethereum which exhibits optimism for the crypto. OI Reaches All-Time High, is it Optimistic for Ethereum Price? According to CoinGlass on X, the OI data analysis saw a continuous rise in the number of OI contracts in the recent sessions. Open interest for Ethereum (ETH) has struck its all time high at $15.64 Billion. #Eth open interest hits all-time high at $15.64B 👉https://t.co/b1RbJ1A35P pic.twitter.com/sEvUtbxoxY — CoinGlass (@coinglass_com) May 22, 2024 With reference to the metrics, it highlights that ETH is strongly bullish and the price shows a as the OI displays the number of open contracts at its peak, which predicts that the price could rise more. A Potential Shift in Market Dynamics- TBSR Looks Bullish! The Taker Buy Sell Ratio (TBSR) in the perpetual futures market serves as a valuable indicator for market sentiment and potential…

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Filed under: News - @ May 23, 2024 4:28 pm