On-chain data shows whale activity on the Ethereum blockchain has been quite high recently due to the excitement around the spot exchange-traded funds (ETFs). Ethereum Whales Showing Significantly Higher Activity Than Bitcoin Ones According to data from the on-chain analytics firm Santiment, Ethereum whales have been displaying considerable activity recently. The indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total amount of transfers happening on any given network carrying a value of at least $100,000. Related Reading: XRP Whales Go On $84 Million Buying Spree: Rally To Continue? Transfers exceeding this amount are generally associated with the whales, so this indicator’s value can provide insight into the activity of these humongous investors. When the metric’s value is high, the blockchain is currently observing many large transactions. Such a trend implies the whales have an active interest in trading the asset. On the other hand, the low indicator suggests the whales may not be paying much attention to the cryptocurrency as they aren’t making that many transfers. Now, here is a chart ..
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