Wednesday, September 28

Ethereum Whales Dump Their ETH As Price Drops Below $ 4,000, Data Shows By CoinTelegraph

© Reuters. Ethereum whales dump their ETH as price falls below $ 4,000, data shows

It is having a hard time keeping its wealthiest investors in check as its native token Ether (ETH) hints at posting more short-term losses.

Blockchain data analytics service Glassnode revealed that the number of Ethereum addresses holding at least 1,000 ETH fell to 6,292 on Monday, the lowest reading since April 2017. At their peak of the year to date, the figures were from 7,239 in January.

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Number of Ethereum addresses with a balance of at least 1,000 ETH. Source: GlassnodeOn-chain analysts often look at ETH distributions between addresses to pick up on retail and institutional sentiments. They consider wallets holding more than 1,000 ETH (about $ 3.92 million) to be “whales,” primarily because of their ability to influence interim market trends through large sell and / or buy orders.

Read the full article on Cointelegraph

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