Ethereum Whale Accumulation and Exchange Outflows May Support Recent Price Surge
Main Idea
Ethereum whales accumulated 722,152 ETH worth $2.77 billion in July, primarily through off-exchange wallets, contributing to a 39% price surge and reflecting strong market confidence.
Key Points
1. Ethereum whales purchased 722,152 ETH worth $2.77B in July, mainly via newly created private wallets.
2. Exchange outflows reached $1.73B, correlating with Ethereum’s price rising from $2,800 to $3,900.
3. 91% of ETH holders are currently profitable, with 75% holding long-term, indicating strong market confidence.
4. Large transactions over the past week totaled $92.25B, showing high network activity and liquidity.
5. Whales' off-exchange accumulation strategy reduces selling pressure and secures assets long-term, minimizing exposure to market volatility.
Description
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