Ethereum Whale Accumulation Reaches Record Highs Amidst Strong Market Fundamentals and Low Bitcoin Correlation
Main Idea
Ethereum whale accumulation has reached record highs, driven by strong market confidence and positive on-chain metrics, with 97% of holders in profit and significant institutional involvement.
Key Points
1. 97% of Ethereum holders are currently in profit, indicating strong bullish sentiment in the market.
2. 55% of Ethereum's supply is held by large investors, highlighting significant institutional involvement.
3. Addresses holding at least $10,000 in Ethereum have surged from 550,000 in April to 868,886 by mid-August, reflecting increased whale accumulation.
4. Ethereum's price movement shows a low correlation (-0.03) with broader crypto trends, suggesting it can move independently.
5. Large transaction volumes totaling $93.78 billion over the past week underscore robust market activity and institutional participation.
Description
Ethereum whale accumulation has reached record highs, with 97% of holders in profit, indicating strong market confidence despite price volatility. Ethereum whales keep accumulating despite price swings, showing strong conviction
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