Ethereum Whale Transactions Hit 4-Month High
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Ethereum Whale Transactions Hit 4-Month High

Ethereum monsters have recorded a drastic drop in activity in recent days, with nearly 2,600 operations registered yesterday to the value of over $1 million each. This is the summary of such transactions on the day after January.

The company noted that this growth has come amid a market-wide retraction, which has sent vaulted vaults across the entire area. Ethereum, for one, stood at $3,000 until May 5, before it suddenly dropped to $300 per minute. Things only got worse in the ensuing days, and the ETH struggles to remain above $2000.

This psychological support line last yesterday threw the sky at 1,700. This is the lowest price since last April. Nevertheless, ETH has carried this drop well and is now trading at around $2,100.

Ethereum Whale’s Recent Behavior

According to Santiment, Ethereum investor monster is rated after reaching $1 million or more.

“For many good things, these addresses should be with $100k or more. For Bitcoin and Ethereum, due to the incomparable level of market level, monsters are typically defined as somewhere between $1M or more, up to $10M or more (depending on current price levels). – stable explained last month.

On May, Santiment announced that Ethereum investments have begun to accumulate ETH after four months of embarrassment. The market intelligence firm said entities between 1,000 and 10,000 ETH holders suddenly added 142,000 ETH, worth approximately $407,415,040 at that time.

Basic Appearance

The Ethereum ecosystem is preparing for its biggest success, called The Merge, which will see a delayed consensus algorithm criticized for testing recent work.

This transition was seen as a powerful move, with a substantial number of prominent institutional and investment professionals wanting to reach the board.

According to Ethereum.org, the number of ETH tied is over 12500,000 units with nearly 400,000 validators as of today. Moreover, it continues to operate the ecosystem with its burning software, which has a significant impact on the market price. More than 2.3 million ETH has been rooted out of existence.

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