TronWeekly

Crypto World News

You are here: Home / Archives for Ethereum whales

Ethereum whales

Ethereum Hits Highest Since June 2022: Bullish Trends in Whale Wallets

by

Ethereum (ETH) has surged to $2,349, marking its highest point since June 2022, as reported by Santiment. The cryptocurrency’s ascent is accompanied by a notable trend in which top non-exchange whale wallets accumulate wealth while top exchange whale wallets demonstrate decreased sell-off power. This convergence of factors paints a promising picture of Ethereum’s continued market climb.

image 24 7

Analysts Debate Ethereum’s Future: Will It Swim or Sink?

Cryptocurrency analysts are closely scrutinizing ETH’s current position, debating whether it will swim to further highs or sink under potential pressures. A recent analysis by a cryptonary analyst sheds light on the critical juncture ETH finds itself in, with a pennant pattern forming that could pave the way for a significant market move.

At present, Ethereum faces a crucial decision point. The mechanics seem favorable, with Open Interest (OI) experiencing a decrease while Funding hovers just above 0.010%. According to technical analysis, the outcome of this pivotal moment could see Ethereum either reaching $2,340 before a potential rejection or dipping to $2,130.

Looking closely at the technical aspects, ETH remains outside the primary upward trajectory despite a recent positive uptrend, typically considered unfavorable for its price. The emerging pennant pattern introduces the possibility of a volatile move, with $2,340 acting as horizontal resistance and $2,130 as horizontal support.

image 24 6

The Relative Strength Index (RSI) maintains positivity across various timeframes, except for the 3D chart, indicating that there might be room for further growth before reaching concerning levels. Analysts anticipate a potential breakout to $2,340, followed by a short-term rejection in that zone.

Examining market mechanics, ETH’s Open Interest has decreased from $8.47 billion to $7.82 billion, a relatively healthy adjustment that suggests the market is not overheated. The OI-Weighted Funding Rate has shown a growing bias towards Long positions, at 0.013%. Despite the bias, it remains at a level considered relatively healthy, without an overweight position in Longs.

Cryptonary’s analysis of ETH’s current status emphasizes the positive market mechanics, highlighting the resilience of the cryptocurrency at the $2,250 level. Despite less favorable technical analysis setups, Ethereum’s price performance has been robust.

Cryptonary foresees the potential for Ethereum to break up to $2,340 before encountering resistance and undergoing a pullback. While short-term trades may not be on the horizon, the analysts plan to move the Dollar-Cost Average (DCA) into the $2,130 area if a pullback occurs. Additionally, they express readiness to implement aggressive DCA orders below $2,000, although they deem the likelihood of the price reaching that level to be low. 

Related Reading | Solana (SOL) Bulls Gain Momentum: Analyst Envisions a 600% Surge, Eyeing $453 Price Level

Ethereum’s Whales: Historic 1/3 Supply Control Since 2016

by

The Ethereum community is buzzing with excitement as the richest ETH investors have significantly increased their token holdings. Recent data from leading data aggregator Santiment shows that these high-value wallets, known as whale addresses [holding a minimum of 1 million ETH], now control more than 32% of the available supply—a level not seen since 2016. Moreover, transactions exceeding $1 million experienced their second-highest volume in five weeks just a day earlier. Undoubtedly, these developments mark a historic moment in the altcoin’s history.

Ethereum
Ethereum's Whales: Historic 1/3 Supply Control Since 2016 4

The unprecedented rise of these Ethereum whales to this level of dominance reflects a stark concentration of wealth within the network. This concentration, while not new in the world of cryptocurrencies, has raised concerns among experts and enthusiasts alike. Many are closely monitoring these developments, pondering the potential impact on the market’s stability and decentralization.

In addition to this remarkable milestone, Ethereum also witnessed a surge in high-value transactions, each valued at $1 million or more. Yesterday’s transactions marked the second-highest volume in this category over the past five weeks. The substantial movement of funds indicates a flurry of activity among institutional investors and high-net-worth individuals, underscoring the growing interest in Ethereum as a store of value and an investment asset.

Ethereum Grapple With Resistance As Whales Stay Resolute

While Ethereum’s price has been volatile, it recently bounced back from the support level at $1,533. As of the time of writing this piece, ETH is trading at $1,574. Analysts closely monitoring the market note that the major cryptocurrency is on the brink of a potential further decline if it breaches the $1,533 support threshold.

However, amidst this looming risk, recent findings from blockchain analytics platform Santiment indicate that Ethereum’s large holders, often referred to as whales, are strategically positioned to avert such a downturn. These significant investors could play a pivotal role in stabilizing ETH’s value, acting as a buffer against a more substantial price decrease. Their actions and decisions are being closely monitored by traders and experts, as they could significantly influence the market’s direction in the coming days.

Ethereum’s Price Rally Stalls After Dormant Whale Move $15M

by

After six years of inactivity, an Ethereum whale came back to life, moving nearly 8k ETH tokens worth over $15 million, as per the crypto intelligence portal EmberCN.

The anonymous account holder in issue received 50,000 ETH from an ICO participant back in 2017, and between May 30 and June 14, 2017, transferred 36,000 ETH to the Kraken exchange, with a potential average selling price of $255.

The last whale activity, that garnered such attention, was in early June when a large-scale ETH investor quickly sold 10,265 ETH worth $19.1 million at an average selling price of $1,861.

Data provided by leading data platform Lookonchain showed that the trend coincided with the crypto market drop, brought on by the SEC’s crackdown on Coinbase and Binance.

The regulator’s clampdown on two of the biggest crypto exchanges triggered a sharp rise in the NetFlow volume of deposits and withdrawals from exchanges at the beginning of June.

Ethereum’s balances on exchange plummeted reaching an all-time low while staking deposits keep surging. 

According to data provided by Glassnode, Ether reserves fell over 12% in the past 30 days as investors were spooked by centralized platforms.

Ethereum On Exchanges At All-Time Low

Decreased supply on exchanges is typically a bullish sign because it indicates there are fewer tokens that can be sold easily.

The size of withdrawals and the bullish price action, however, are reminiscent of the levels in November 2022, when Ethereum quickly increased by almost 33% in response to a comparable decline in exchange balances.

In addition, after April’s Shapella upgrade, the supply of ETH locked-in staking contracts has risen considerably. Over 23 million ETH, or 19.1% of its entire supply, are currently held in staking contracts.

According to Glassnode’s data, approximately 30% of ETH’s supply is being held in smart contracts, such as staking and decentralized financial contracts, up from 25.5% at the beginning of 2023.

Increased deposits into smart contracts and withdrawals from exchanges are good for ETH’s price since they lower the amount of liquid supply available.

At press time, the price of Ethereum stands at $1,881, edged down by 1.7% but has risen nearly 9% in the past week. Per Coinmarketcap, the Bitcoin rival’s 24-hour trading volume stood at $7 billion with a market cap exceeding $226 billion.

Strange Ethereum Whale With Holdings Worth $738M Resurfaces In Market

by

Market watchers are interested in a strange Ethereum [ETH] whale that has appeared in the cryptocurrency market. This whale has been acting unusually and has holdings worth more than $738 million. This includes significant sales of ETH, deliberate buybacks, and asset swaps between other exchanges.

This whale earned an astounding 1.5 million ETH between 2016 and 2017. On Dec. 1, 2018, they started transferring all of this accumulated Ether. The significant sum of ETH was divided into 37.5K smaller parts. Then, this was dispersed across numerous wallets. These funds were later combined into larger sums, each equaling 150K ETH, and they haven’t changed since.

The market took notice of the whale’s most recent activities despite the fact that this move is extremely unusual. The whale sent 450K ETH to an address connected to the Coinbase cryptocurrency exchange. Questions were raised about this transaction, especially in light of the possible effects it would have on the ETH market if a sizeable portion were to be sold.

https://twitter.com/napgener/status/1668803542918766592?s=20

Whale Intentionally Manipulating Ethereum Price?

Numerous theories have been proposed in response to the whale’s behaviour. Some claim that the whale is purposefully manipulating the price of ETH by using the size of its holdings to stir up the market. It intends to benefit from price swings in this way. Others, on the other hand, argue that the whale’s motivations are more benign, and that it simply wants to diversify its bitcoin holdings while taking advantage of market opportunities.

What the long-term objectives of this enigmatic whale may be are still unknown at this point. The following weeks and months will reveal the exact nature of its ambitions as spectators continue to be intrigued by its actions. The market will probably keep track of the whale’s whereabouts. The whale’s exact intentions are still a mystery, but there is no doubt that its actions have had a long-lasting effect on the Ethereum market. At the time of writing, Ethereum was priced at $1,642.40 with a daily drop of 5.61%.

Slumbering Ethereum Whale Triggers Price Upswing Of $1500

by

An Ethereum whale woke up from its deep slumber and transferred over $22 million worth of ETH to an empty wallet. This caused the token’s price to briefly jump by $1,500 for the first time since the merge six weeks ago, Santiment observed. 

Becoming active after six years, the whale address moved 15,000 ETH at 2:49 UTC on Oct 26. Since this transaction, ETH’s price has risen over 8%.

Back in Aug, another leading blockchain platform Whale Alert tracked down a comatose Ethereum wallet that laid dormant since late 2014. This may be one of the early Ethereum investors who purchased this ETH during the ICO that took place in late July to early September 2014, as the cryptocurrency included in the wallet was pre-mined.

The owner of this wallet has reportedly shifted 200 pre-mined ETH valued at $282,115 after 7.2 years of inactivity.

According to reports, the whale address acquired up to 150,000 ETH in 2014’s Ethereum Genesis sale. On July 31, 2019, exactly five years after the ICO, 5,000 ETH were sent from the address to the Bitfinex3 exchange. ETH was valued at $219 at the time of the $1.095 million transaction.

ETH whale investors continue to hold onto the second-largest cryptocurrency by market cap as of September 11.

Ethereum Whales Accumulation Spree

According to Santiment data, 3.5 million additional coins have been added to Ethereum whale accounts that possess one million or more ETH since September 11. The inclusion raised the billionaire whales’ ETH holdings by 14% in the time since the Merge.

In contrast, according to prior Santiment statistics, ETH sharks and whales—the group of investors below billionaire whales that own between 100 and 1 million ETH tokens—have been liquidating their ETH holdings.

The largest portion of the wipeout, $62.74 million worth of liquidated short positions, is accounted for by the cryptocurrency exchange FTX. In the second and third position, respectively, are Okex and CoinEx.

After the price of the ETH token increased by more than 14% over the previous 24 hours, a series of cascading liquidations occurred. The current price of the second-largest cryptocurrency is $1543.


534 Billion Shiba Inu Scooped up by Ethereum Whales

by

Shiba Inu was reporting small increases in accordance with the most recent relief rally in the cryptocurrency market, according to statistics from CoinMarketCap. SHIB was up 1.90 percent in the last 24 hours and is currently trading at $0.00001067 at the time of writing.

As investors were influenced by macroeconomic worries at the beginning of the week, the cryptocurrency market came under selling pressure. According to WhaleStats, two Ethereum whales have just scooped up around 534 billion SHIB. It took three sizable trades to do this.

Ethereum whales scooped up Shiba Inu in three transactions

According to WhaleStats, the 248th-ranked Ethereum whale, “Gimli,” purchased 187,000,000,000 SHIB for $1,991,550 all at once.

Top whale “Gimli” has already purchased 199,999,999,999 SHIB for $2,075,999, according to WhaleStats. Shiba Inu is the Ethereum whale “Gimli’s” largest holding, according to a look inside his wallet (address).

Currently, “Gimli” has 391 billion SHIB ($4,312,591) in his wallet. The top ETH whale, “BlueWhale0159,” who is now rated 373rd on WhaleStats, just acquired a massive 147,000,000,000 SHIB worth $1,556,730.

https://twitter.com/WhaleStats/status/1552138675688980480

In other news Shiba Inu appears to be in negotiations with Shopping.io, an online store that enables customers to purchase and pay for items at well-known stores like Amazon, Walmart, eBay, and Etsy using cryptocurrency. 

At the time of publication, the conversation’s specifics were unclear. This was hinted at when Milkshake, a Twitter account dedicated to Shiba Inus, posted on July 26 about a meeting with Shopping.io. 

This tweet was also published by the e-commerce site as what appeared to be confirmed. In subsequent tweets, Arbel Arif, CEO of Shopping.io, responded to Milkshake’s tweet with the comment, “Big things coming to Shibtoken + shopping io,” outlining the main points of the gathering for the user.

In subsequent tweets, Arbel Arif, CEO of Shopping.io, responded to Milkshake’s tweet with the comment, “Big things coming to Shibtoken + shopping io,” outlining the main points of the gathering for the user.

 It’s interesting to note that Shopping.io supports SHIB, thus it’s unclear what the impending relationship would entail.

Shiba Inu Retains The Largest Token Position Among Top ETH Whales

by

The Shiba Inu [SHIB] token emerged as the biggest gainer in the blazing rally, rising by almost 50% in the past seven days. This in turn helped the token to retain its numero uno position among the top 100 ETH whales.

As per data from whalestats, the top 100 ETH wallets have scooped $606 million worth of SHIB, which is 15.12% of their holdings.

In addition to that, the popular meme coin at present was exchanging hands at $0.000011 after a marginal rise of 5% in the past 24 hours. The 13th-ranked token’s current market cap stood at $6.54 billion.

During this week, a series of significant announcements provided Shiba Inu with a much-needed price boost amidst the prolonged bear market.

One of them is Shibarium, a layer-2 solution first proposed by Ryoshi, the creator of the Shiba Inu Coin. The entity behind the development of the protocol, the Unification Foundation, recently published a detailed post on their Medium blog.

According to the post, the upcoming TestNet has been operating without any hitch for several weeks and is currently undergoing development in preparation for the public Beta TestNet release.

The developers highlighted that the wallet is intended to be an all-inclusive application and would enable the movement of assets within Layer 1 and Layer 2, the possibility of stalking, and in the future, ShibaSwap would also be executed in it.

Shiba Inu’s layer 2 scaling solution is set to deploy in Q3

The launch of the Shibarium Public Beta TestNet, which will allow complete network interaction for users, including the validation process, is scheduled for the year’s third quarter.

The community-dedicated Twitter handle, ShibaInuart, shared its expectations once the beta phase goes live:

“When the Shibarium Public Beta TestNet planned for deployment becomes active, workflows of key areas for those interacting with the blockchain environment will help evaluate the following: performance benchmarking, usability optimization, and architecture stabilization.”

A few weeks back, Shytoshi Kusama, one of the key members of the project’s development team, earlier teased the release of Shibarium that generated quite a stir.

That said, with a large number of circulating SHIB, and a hugely enthusiastic fan base, Shibarium can be the deal breaker and usher in a new era for the SHIB ecosystem.  

Shiba Inu is now the most preferred token among the 2000 Large ETH whales

by

Shiba Inu’s listing in Robinhood has cemented the token’s legitimacy as well as opened the door for more investors. This is evident from the fact that whale activity towards the coin has increased progressively as interactions with the token reached a whole new level, following the news, as per WhaleStats.

Drilling deeper, ETH whales are on a buying spree, which increased the usage of the Shiba Inu smart contract making it the most preferred investment vehicle among the 2,000 largest Ethereum whales cohort.

The more important increase is the net flow of the meme token on whale addresses, which has risen by a whopping 500%, indicating that more tokens flowed into whale wallets than out. This further points out the short- and mid-term bullishness of large investors.

Image

On-chain metrics of Shiba Inu spiked

After laying low for several weeks, SHIB’s 24-hour trade volume crossed $5.6 billion across exchanges. The token’s on-chain activity too exploded as research linked Vitalik Buterin to SHIB developers. According to a report by Figaro Research, Buterin or Ethereum core developers might be associated with the Shiba Inu token’s creation and development.

Apart from that, the meme coin has also seen a spike in the adoption rate. Besides Robinhood, three other crypto projects have listed popular cryptocurrency Shiba Inu last week. Those are EverRise and FCFPay and Rappi.

DeFi platform EverRise supports a host of products ranging from a staking lab, a personal wallet, and a DAO. Its swap feature, known as EverSwap, listed Shiba Inu on 12 April, allowing users to exchange its native token RISE tokens for SHIB.

Canadian-based crypto payment provider FCFPay also added Shiba Inu as a mode of payment for its merchants. The last one to enable payments support with SHIB tokens is the delivery app Rappi. The Colombian-based food and grocery app grabbed headlines recently after announcing a crypto payment pilot program in Mexico.

Shiba Inu’s lackluster price action

Investors were hoping for a big turnaround in the token’s price action after the big news about the Robinhood listing. SHIB did manage to gain around 24% of its value, however, the asset failed to keep up the momentum and was down by 20% since then. At press time, Shiba Inu is exchanging hands at $0.000024.

Shiba Inu Tokens Worth 90M Gulped Down By A Giant Whale

by

Amidst Shiba Inu’s dull price action, an unknown ETH whale bought an eye-popping 3.7 trillion SHIB tokens which are worth roughly $90 million. Based on data shared by Whale Stats, the large holder is ranked 216 on its platform.

Ethereum whales are gobbling the popular meme coins like never before. Over 300 billion SHIB tokens worth more than $7 million were purchased by two such large holders just a few days ago. 

According to WhaleStats data 4 days back, the 15th largest Ethereum whale, holding over 4 trillion SHIB tokens, bought 50 billion SHIB netting nearly $1.1million at the time of purchase. The next day another such giant player bought 271 billion of the canine tokens benefitting around $6 million.

Data further reveals that the purchase was made shortly after Shiba’s burn rate exploded by more than 6,700%. Over half a billion Shiba Inu was destroyed, while almost 33 million of the coins have been incinerated in a span of 24 hours as part of the community’s efforts to increase the value.

Will this drive Shiba Inu’s price to newer heights?

As per data provided by the @shibburn service that monitors Shiba Inu burn transactions on Etherscan, the burned meme coins have been sent to dead-end wallets. The website of the Shibburn service showed since 17 March, a staggering 600,729,245 canine coins have been sent to several “inferno” crypto addresses, from where no one can spend or withdraw them. It took the participants five transactions to complete the action.

This monumental sum in SHIB tokens was removed from circulation by Travis Johnson’s SHIB burn games Twitter account on Thursday, March 17. That was a scheduled token burn, and the destroyed tokens were valued at $13,356. Two days before, a much smaller amount of SHIB was burnt, little more than 37 million Shiba Inu.

That said, supporters of the meme coin are anticipating a huge turnaround in the token’s price action. One such source belonging to the community noted,

The possibilities of Shibarium coming out seem to be coming closer as though no exact time frame has been given, more talk about Shib, Shiberse and Shibarium have been coming out. This could indicate a massive upward surge coming in the next couple of months for this cryptocurrency.

Ethereum [ETH] whale addresses skyrocket to 51-month peak

by

Ethereum [ETH] has managed to reverse some losses after the flash crash of September 7. It was now up by almost 5% over the past day. The renewed interest in the crypto-asset can be attributed to the whales accumulating in the backdrop of a massive plunge.

As a matter of fact, the on-chain data provider Santiment observed that the ten largest ETH whale addresses have skyrocketed in supply held in the period of the last 15 weeks. Collectively, these addresses now hold more than 21% of the crypto-asset’s total circulating supply. With this, the amount of ETH stored in these cold wallets has increased to a 51-month all-time high.

Santiment’s tweet regarding the same read,

“Ethereum is charging back, making a modest rebound thus far to $3,537. The top 10 largest whale addresses have notably skyrocketed in supply held over the past 15 weeks, now owning 21.38% of all ETH, the largest amount by them in 51 months.”

ETH
Ethereum [ETH] whale addresses skyrocket to 51-month peak 7

Bullish on Ethereum

Ethereum’s failure to advance and hold its fort above $4,000 may have drawn aggressive profit-booking from the short-term traders. But the latest accumulation trend depicted a positive picture for the altcoin that shed double-digit losses during the heightened sell-off earlier this week.

Many attempted to capitalize on the market-wide oversold bounce. With ETH’s rising dominance, investors are now betting on the largest altcoin as medium-term price movement does not look promising but rather bleak for Bitcoin.

Market participants aren’t the only ones who are bullish on Etheruem. Standard Chartered’s global research team compared the crypto-asset to a “financial market,” enabling lending, insurance, and exchanges and stated,

“In other words, while potential returns may be greater for ethereum than for bitcoin, risks are also higher,” said the bank’s team, adding “the current price reflects both the relative complexity of ethereum [versus bitcoin] and the uncertainty around ethereum’s development.”

The popular bank also expects Ethereum to profit from the 2.0 upgrade that started last year and is designed to enhance scalability, improve functionality make it more efficient.

Besides, Ethereum whales had reportedly moved over $1 billion in ETH across 21 separate transactions this week alone as the entire market severe correction. As revealed by the crypto tracker Whale Alert, an unknown wallet sent cryptocurrency exchange Binance a massive 99,990 ETH on September 7, which totalled more than $343 million, the largest of the tracked transactions.