👍👍Ethereum Whales Are Selling Their Investments: Could the Nightmare Have Begun for ETH? 👍👍
There have been remarkable developments in whale activity in the Ethereum price since July. According to the data, a decrease of more than 7% has been observed in the number of whales holding more than 10,000 ETH. Despite this decrease in whale activity, it is striking that 62% of Ethereum owners are still in profit. This shows that the market is still favorable for most investors despite the fluctuations in recent months.
The fact that owners in profit generally tend to hold on to their assets and do not make sudden sales provides some stability in the market. In addition, Ethereum has experienced periods of sudden increases in net inflows, indicating increased demand and activity on the network. After yesterday's decline, these inflows seem to have increased once again. Such moves can often be a precursor to stronger price movements, as increasing inflows can increase buying pressure.
According to Coinglass data, some fluctuations between short and long positions are noticeable. The long/short ratio is at 1.01, indicating that long positions are more dominant.
Despite the decline in the number of whales, broader market sentiment remains positive. With 62% of its owners in profit and increasing inflows after recent declines, Ethereum may be on the verge of a more comprehensive price rally.
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