Ethereum whales holding more than 10,000 ETH have fallen more than 7% since July. 62% of Ethereum holders are profiting as net inflows are likely to increase.
Ethereum (ETH) has shown a clear downward trend in the number of whales holding 10,000 ETH or more since July.
This decline of over 7% is quite significant considering that large holders actually act to determine the direction of the market.
The rapid decline in whale involvement signals a shift in the psychology and strategy of wealthy investors.
This is certainly a notable change, especially for those keeping an eye on the altcoin king’s long-term market outlook.
Source:X
The majority of Ethereum holders are still making profits
Despite the decline in whale activity, 62% of Ethereum holders are still making profits.
This may suggest that despite some volatility over the past few months, the market is still reasonably friendly to the majority of investors.
Profitable holders are typically more likely to hold on to their assets and not sell them suddenly, which can provide a kind of stability to the market.
Source: Into the Block
Increase in net inflows suggests increased market activity
Ethereum has experienced a series of spikes in net inflows, indicating increased demand and activity on the network. After yesterday’s drop, inflows appear to be increasing again.
Such movements usually precede stronger price movements, as increased capital inflows can certainly increase buying pressure.
Source: CryptoQuant
bull and bear fight
AMBCrypto further analyzed Coinglass long/short ratio to assess market direction. The data revealed a series of fluctuations between short and long positions.
At the time of writing, this ratio is 1.01, indicating that long positions are starting to dominate the market.
Source: Coin Glass
Read Ethereum (ETH) price prediction for 2024-2025
Despite the notable decline in Ethereum whales, overall market sentiment remains positive.
After the recent sell-off, Ethereum may be on the cusp of a broader price rally, as 62% of holders have taken profits and capital inflows have increased.
Next: Weekly winners and losers in the crypto market – FTT, POPCAT, NOT, ENA
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