Whale Transactions Decline, But Ethereum Activity Remains Noteworthy
The post Whale Transactions Decline, But Ethereum Activity Remains Noteworthy appeared on BitcoinEthereumNews.com.
Since mid-August, transactions involving cryptocurrency whales have significantly declined. Bitcoin transactions of $100,000 or more have dropped by 33.6% from their peak levels in March and April. Ethereum transactions in the same value range have plummeted even further, with a 72.5% decrease from their peak. 🐳 Cryptocurrency’s whale transactions have seen a noticeable drop-off since mid-August 🪙 Bitcoin: -33.6% drop in $100K+ transfers since March/April peak🪙 Ethereum: -72.5% drop in $100K+ transfers since March/April peak This isn’t necessarily a bearish signal. Whales can be… pic.twitter.com/iGNRt2roPL — Santiment (@santimentfeed) September 11, 2024 This decline is not necessarily a bearish indicator. Whales, who hold significant amounts of cryptocurrency, can be active whether markets are bullish or bearish. The drop in whale transactions suggests that major stakeholders might be waiting for optimal conditions—whether during periods of extreme market greed or fear—before making their next moves. More ETH Sales From Wallet Associated With Vitalik Buterin In recent notable transactions, a wallet associated with Vitalik Buterin sold 190 ETH for approximately 441,971 USDC. This wallet had received 3,800 ETH from Buterin and has since sold 950 ETH at an average price of $2,396 since August 30. Additionally, the team behind Friend.tech liquidated 19,477 ETH, totaling $52.4 million, between December 2, 2023, and June 11, 2024. The price of Friend.tech’s token has dropped 95% since its launch. A wallet related to vitalik.eth(@VitalikButerin) sold 190 $ETH for 441,971 $USDC again 20 minutes ago! The wallet received 3,800 $ETH($9.8M) from #Vitalik and has sold 950 $ETH($2.28M) at an average price of $2,396 since Aug 30.https://t.co/K6i8Wr8vZ3 pic.twitter.com/GgHvs3gxft — Lookonchain (@lookonchain) September 11, 2024 The https://t.co/7UU3SB86ts team sold 19,477 $ETH($52.4M) from December 2, 2023, to June 11, 2024! The price of $FRIEND has dropped 95% since its launch. pic.twitter.com/2c7LcCtK3Q — Lookonchain (@lookonchain) September 11, 2024 Metalpha also made headlines by…
Filed under: News - @ September 12, 2024 8:25 am