Over the past 30 days, Ethereum whale wallets have been actively accumulating, signaling strong confidence in the cryptocurrency’s future.
These large holders, which control more than 0.1% of the total ETH supply, have been steadily buying up Ethereum, with net outflows recorded on only three days during this period.
According to the large holder netflow indicator, these wallets have collectively added over 1.7 million ETH in the last month. This significant accumulation behavior highlights the growing optimism among big investors regarding Ethereum’s long-term potential. In just the past two days alone, 175,000 ETH has been scooped up by these whales, further supporting this bullish outlook.
Over the past 30 days, ETH whale wallets have been actively accumulating, with net outflows recorded on only three days.
📊 The large holder netflow indicator tracks when wallets holding more than 0.1% of the total supply are buying or selling.
🔍 In total, these wallets have… pic.twitter.com/om1UM9tArf
— IntoTheBlock (@intotheblock) October 16, 2024
Whale Buying, Strong Signal Of Confidence
Such consistent buying activity by large holders is often seen as a strong signal of confidence in the asset. With Ethereum playing a pivotal role in the world of decentralized finance (DeFi) and smart contracts, whale accumulation suggests that these investors believe in its continued growth and value.
However, not all the recent news surrounding Ethereum has been bullish. On October 15th, Ethereum spot ETFs saw an outflow of $12.7 million. While this might indicate some short-term selling pressure in the institutional market, it doesn’t seem to have deterred the whales from continuing to build their positions.
Overall, the ongoing accumulation by Ethereum’s largest holders demonstrates their belief in the cryptocurrency’s future growth, particularly as the network continues to evolve and strengthen its position in the blockchain ecosystem. As whales continue to add to their holdings, many are watching closely to see how this trend impacts Ethereum’s price and market dynamics in the coming weeks.
Over the past 30 days, ETH whale wallets have been actively accumulating, with net outflows recorded on only three days.
📊 The large holder netflow indicator tracks when wallets holding more than 0.1% of the total supply are buying or selling.
🔍 In total, these wallets have… pic.twitter.com/om1UM9tArf
— IntoTheBlock (@intotheblock) October 16, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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