Ethereum is currently at a pivotal point, with its key support level positioned around $2,700. The network is home to 11.11 million addresses holding a combined 59.07 million ETH.
Data from @intotheblock indicates that approximately 3.69 million addresses each hold around 1.24 million ETH, with an average purchase price near $3,000.
This price level represents immediate psychological support for Ethereum, though it remains weaker compared to the crucial $2,700 support zone. Within this broader support range, the 11.11 million addresses hold ETH at an average price of $2,647.
ETH 关键支撑位 2700 美元附近有 1111 万个地址持有 5907 万枚 ETH
据 @intotheblock 数据显示，大约 369 万个地址持有 124 万枚 ETH，持币价格约为 3000 美元，该价位标志着以太坊的即时和心理支持。
然而，与关键支撑位 2,700 美元相比，它相对较弱。在这个范围内，1111 万个地址持有高达 5907… pic.twitter.com/99bdhOC1Gy
— MetaEra 中文 (@MetaEraCN) August 2, 2024
In recent developments, Ethereum transaction fees have hit a nine-month low, with gas costs dropping to just 1 gwei—about $1 for a typical swap transaction.
Ethereum fees reached a nine-month low this week, with gas costs dropping as low as 1 gwei (~$1 for a swap transaction) pic.twitter.com/f2Br1dfBtd
— IntoTheBlock (@intotheblock) August 2, 2024
Adding to the market dynamics, a prominent whale has made a notable move by withdrawing 4,000 ETH, valued at approximately $12.58 million, from Binance just six hours ago.
This whale, known for its strategic trading, realized a $38 million profit, or a 26.7% gain, from ETH between November 2022 and May 2024.
Whale Incurs Losses From ETH Withdrawals From Nay 29, 2024
For their latest strategy, this whale has pulled out 17,012 ETH at an average price of $3,582 since May 29, 2024. This withdrawal has resulted in an unrealized loss of $7.41 million, or 12.2%, against their initial investment of $60.9 million.
A smart whale with a $38M profit withdrew 4,000 $ETH ($12.58M) from Binance 6 hours ago!
This whale excels at buying $ETH at lows and selling at highs, making ~$38M (+26.7%) from $ETH between Nov 2022 and May 2024 (pic 👇).
For the current trade, the whale has withdrawn 17,012… pic.twitter.com/a0WppZGjic
— Spot On Chain (@spotonchain) August 2, 2024
In ETF news, August 1 saw Ethereum spot ETFs experience a total net inflow of $26.75 million. Notably, the Grayscale ETF (#ETHE) saw a significant outflow of $77.95 million, while the BlackRock ETF (#ETHA) recorded a substantial inflow of $89.65 million. Fidelity’s ETF (#FETH) also saw an inflow of $11.70 million, reflecting a shift in institutional investment trends.
‼️BREAKING: On August 1, the #Ethereum spot #ETFs witnessed a total net inflow of $26.7456 million. #Grayscale #ETF #ETHE experienced a single-day outflow of $77.9509 million, #BlackRock $ETF #ETHA had a single-day inflow of $89.6471 million, and #Fidelity ETF #FETH recorded an… pic.twitter.com/F03NjJFvWo
— CoinEcho (@mycoinecho) August 2, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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