• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Belgium to introduce new crypto ad regulation

2023-03-21

Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

2023-03-20

Taiwan orders financial watchdog to take over crypto regulations

2023-03-20
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01

    Yuga Labs Launches A New NFT Collection on Bitcoin Network

    2023-02-28
  • Metaverse

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13

    South Korea Launches New ‘Metaverse Fund’

    2023-03-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Belgium to introduce new crypto ad regulation

    2023-03-21

    Taiwan orders financial watchdog to take over crypto regulations

    2023-03-20

    Florida Governor Moves to Ban CBDCs, Calls for Coalition of States to Follow Suit

    2023-03-20

    Florida Governor Ron DeSantis seeks to ban US CBDC in state

    2023-03-20

    Cardano Creator Charles Hoskinson Slams Politicians for Blaming US Banking Crisis on Crypto

    2023-03-20
  • Learn

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15

    What is it & List of Top defi 2.0 Projects

    2023-03-13

    Centralized (CEX) vs Decentralized (DEX) Cryptocurrency Exchanges

    2023-03-06
  • Market Cap
CryptoNewsMetaverse
Home»Altcoins»Ethereum Whales Enter A Major Distribution This Month
Altcoins

Ethereum Whales Enter A Major Distribution This Month

2022-12-29No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Along with Bitcoin, the world’s second-largest cryptocurrency Ethereum (ETH) has come under severe selling pressure after the collapse of the crypto exchange FTX. The ETH price has lost under $1,200 as investor confidence wanes.

This month of December 2022 was even more concerning as Ethereum whales sold close to 1 million ETH coins so far. Citing data from Santiment, popular crypto analyst Ali Martinez writes:

Ethereum whales holding between 10,000 and 100,000 $ETH have sold or redistributed around 880,000 #ETH since December 2022.

Courtesy: Santiment

As of press time, ETH is trading 0.3% down at a price of $1,194 and a market cap of $146 billion. The ETH price has very strong support at $1,175 levels wherein 1.24 million addresses hold a total of 2.27 million ETH.

In comparison to the support on the downside, the resistance at $1,227 is much more significant since 4 million addresses have purchased a total of 15 million ETH at these levels.

Courtesy: IntoTheBlock

While several altcoins have delivered strong returns even post-FTX collapse, Ethereum has refused to join the party. Instead, it has largely been following the price action of Bitcoin and continues to be under selling pressure.

Currently, there’s no clear catalyst for the ETH price to change course but investors are optimistic going into 2023.

Unlike Ethereum, Other Altcoins Take the Lead

Although the Ethereum price action hasn’t been exciting, there are a few altcoins making strong moves this month. One such altcoin is Litecoin (LTC) which has been on investors’ radar and is seeing strong whale participation. Along with Litecoin, Binance’s native tokens BNB and BUSD have seen a major spike in large-value transactions. On-chain data provider Santiment reported:

“Litecoin whale transactions have been much higher than normal in the second half of December. Additionally, #Binance‘s native tokens $BNB and $BUSD are both seeing high spikes in $1M+ valued transactions of their own”.

Courtesy: Santiment

Terra Classic (LUNC) was also among the top-performing altcoins over the last week. However, it entered a sharp correction after crypto exchange Binance suspended the LUNC burn program.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



Source link

Distribution enter Ethereum Major month Whales
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum co-founder praises Gary Gensler as ‘shining knight of decentralization’

2023-03-16

Here’s Why Ethereum Is Not a Security, According to Crypto Think Tank Coin Center

2023-03-12

$429,000,000 in Bitcoin and Crypto Liquidated in Just 24 Hours As Powerful Law Enforcement Agency Targets Ethereum

2023-03-10

Crypto lawyer rallies Ethereum investors in class action lawsuit against NYAG’s ‘securities’ label

2023-03-10
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Solana: Despite steady structural support, here’s why SOL is still not in the clear

2022-06-10

US lawmakers ask about EPA, DOE monitoring of crypto mining emissions, energy consumption

2022-07-17

Terraform Labs claims case against Do Kwon is ‘highly politicized:’ WSJ

2022-09-30

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Belgium to introduce new crypto ad regulation

2023-03-21

Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

2023-03-20

Taiwan orders financial watchdog to take over crypto regulations

2023-03-20
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,116.00-0.41%
  • ethereumEthereum(ETH)$1,812.101.69%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.01%
  • binancecoinBNB(BNB)$337.59-0.69%
  • usd-coinUSD Coin(USDC)$1.00-0.03%
  • rippleXRP(XRP)$0.42509010.71%
  • cardanoCardano(ADA)$0.3531532.82%
  • Lido Staked EtherLido Staked Ether(STETH)$1,811.881.95%
  • matic-networkPolygon(MATIC)$1.150.30%