Ethereum whales have been actively trading ETH in the past 24 hours at a pace seen in January
According to the on-chain analytics firm sentimentEthereum whales have been actively trading ETH over the past 24 hours at a pace seen in January. According to a chart provided by Santiment, Ethereum whales made a total of 2,956 transactions, each worth $1 million or more, on May 11, the highest day of whale transactions in nearly five months.
I #ethereumWhale’s Whale has been highly active today, closing 2,596 transactions worth $1 million or more. This is the highest day of whale transactions since January, and there is something to watch if $ETH Falls below $2k for the first time since last July. https://t.co/FZoTsFJwEn pic.twitter.com/MVFEpzysxN
— sentiment (@santimentfeed) 11 May 2022
Santiment notes that such whale trades may be worth watching as Ethereum moves below the $2,000 mark. Amid the recent market sell-off, Ethereum fell over 10% over the past 24 hours to touch the $1,701 low seen at the time of writing. Ethereum is currently trading at $1,951.
As previously reported by U.Today, over 330,000 ETH were sent to crypto exchanges in recent weeks. An increase in inflows into exchanges may suggest increased selling pressure resulting from a decrease in demand. Since the asset is being put up for sale, this makes its availability on the exchanges and consequently the price drops.
On a positive note, Brazil-based NuBank, one of the largest digital banking platforms in the world, has flagged off the buy, hold and sell capabilities for cryptocurrencies, Bitcoin and Ethereum.
Ethereum registers $352 million worth of liquidations amid market slump
Ethereum fell in line with the general cryptocurrency market in the recent selloff. The cryptocurrency fell along with the equity market after the Bureau of Labor Statistics reported consumer prices for April rose 8.3%, slightly higher than expected by economists polled by Dow Jones.
I #ethereum $ETH The number of addresses holding 100+ coins just reached a 1-month high of 42,966
Last 1 month high of 42,935 was seen on 04 May 2022
View metrics: https://t.co/FbjiMG3uFX pic.twitter.com/QR7qe83lbM
— glassnode alerts (@glassnodealerts) 12 May 2022
According to CoinGlass, around $1.29 billion has been liquidated in the crypto market during the last 24 hours. Ethereum faced liquidations worth $352 million in the last 24 hours.
Despite the volatility in the market, the number of addresses on Ethereum holding more than 100 coins has now reached a five-month high of 42,995. Ethereum’s trading volume also reached an 11-month high of 127,411.285 ETH, per . reached on glassnode Alert.