cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

Ethereum Buying Pressure Reaches Critical Level Amid Massive Whale Buying

-

by

in

Institutional investors have been accumulating Ethereum at a rapid pace after the SEC’s recent approval of Spot Ethereum ETFs. Crypto analyst Ali Martinez noted that this accumulation trend has created buying pressure that could be the much-needed catalyst for Ethereum to break above the $4,000 price mark.

According to a social media post by Ali Martinez, the number of Ethereum addresses holding over 10,000 ETH tokens has increased by 3% in the last three weeks, showing a positive trend among large investors. 

Whales Accumulating Pushes Ethereum Buying Pressure

Speculation over ETF approvals and increasing institutional buy-in have helped fuel Ethereum’s price increase earlier this year. The first price surge occurred in February when multiple reports came out of the SEC potentially approving Spot Ethereum ETF applications after the approval of Spot Bitcoin ETFs.

This saw the price of Ethereum surging over 83% throughout the month to reach above $4,000 again for the first time since 2021. Similarly, court rulings in May, which increased the odds of Spot Ethereum ETF approval, pushed the price of ETH above $3,000 again. 

Now that the SEC has finally approved these spot ETF applications, institutional investors are taking the chance to load up their portfolios with Ethereum. According to Glassnode data, this accumulation, which has been going on for the past three weeks, has pushed the number of wallets holding over 10,000 ETH past 975 and steadily approaching 1,000 addresses. Furthermore, data shows that the number of ETH mega-whale addresses has steadily increased in the past 30 days, with the recent metric showing an addition of 15 whale addresses. 

The number of 1TP5테더리움 addresses holding 10,000+ $ETH has increased by 3% in the last three weeks, signaling an important spike in buying pressure! pic.twitter.com/7qq5HgGP37

- 알리 (@ali_charts) June 9, 2024

On-chain data also reveals that social sentiment for ETH has stabilized after intense enthusiasm post-Spot Ethereum ETF approval. However, this hasn’t stopped the massive withdrawal from exchanges, leading Ethereum to become scarcer on centralized exchanges. This trend has now seen the Ethereum balance on centralized exchanges dropping below Bitcoin, even as Spot Bitcoin ETF wallets also accumulate Bitcoins. According to Glassnode data, less than 10.56% of Ethereum’s total supply is currently held on major exchanges.  

ETH Price Outlook: What’s Next After Critical Buying Pressure?

With whales doubling down on Ethereum, the buying pressure has reached a critical point. This surge of interest signals a very bullish outlook for Ethereum’s price in the coming months, although there could be short-term volatility. 

At the time of writing, Ethereum is trading at $3,527 and has fallen 3.83% in the past 24 hours. While the increase in buying pressure is a good start, the bulls still have some work to do to push Ethereum’s price higher. The first major resistance wall is around $3,700, where 1.82 million addresses hold 1.8 million ETH.

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (445) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (73) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (4) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (6) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.