Ethereum whales strengthen their activities with an increase of over 54 % within two days

Ethereum whales strengthen their activities with an increase of over 54 % within two days

Ethereum whales increase your purchases because the price of Ethereum (ETH) continues to increase. These whales are large owners of Ethereum and active purchases worth at least $ 100,000. This increased activity is a reaction to the price increase of Ethereum in recent years.

Data from Tothe Block show that the purchases of the ETH whales have increased significantly. Within just two days, their total purchases rose from 2,120 to 3,230, which corresponds to an increase of over 54%. In a week, a total of almost $ 7 billion was transferred through ETH whales.

Although this increase is impressive, it is not unusual for Ethereum to record such large purchases. At the end of June, the total purchases even rose over the $ 3,000 mark. Compared to Bitcoin, Ethereum has a larger number of whales. While Ethereum whales only make up 11% of the total owner base, they make up 42% of the total owners depending on the provider.

The activity of the Ethereum whale can significantly influence the price of Ethereum, depending on what you do with your bought pieces. If you market these pieces, Ethereum's price could decrease. In view of the fact that the price of Ethereum remains stable and is supported at $ 1,900, it is likely that the whales simply shift their pieces without advertising.

It is also interesting to determine that these on-chain purchases do not lead to increased circulation of Ethereum for transactions, which indicates that the whales keep their shares stable for marketing purposes.

Although Ethereum's investment volume has dropped in the past few days, the price of Ethereum remains constant. On Monday, the investment volume was $ 6 billion, which corresponds to a decline of 27%. Nevertheless, Ethereum is currently being traded for $ 1,963, which corresponds to an increase of 0.1%.