Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has created a perplexing scenario for investors recently. Despite a noticeable decline in its price, on-chain data reveals that large investors, often referred to as “whales,” are accumulating ETH. This could signal a potential buying opportunity, though technical indicators suggest a weakening uptrend, leaving Ethereum’s near-term future uncertain.
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Ethereum Whales See Opportunity In Price Dip
In recent analysis by NewsBTC, it was revealed that wallets holding over 10,000 ETH have been steadily acquiring more tokens since the end of May. This period of accumulation, based on Glassnode data, coincides with a drop in Ethereum’s price from around $3,074 to its current price of $3,670. The significant increase in holding ..
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