The recent transfer of a large volume of ETH to exchanges raises questions about the state of Ethereum. Despite bullish signals, the market exhibits mixed sentiments.
Large Fund Movements
Recent data analysis revealed that a large whale, likely linked to Arthapala, transferred 155,837 ETH. Out of this amount, 120,918 ETH, equivalent to $317 million, was sent to exchanges. The remaining 34,919 ETH remains unstaked and is valued at $91.6 million.
Mixed Blockchain Signals
Ethereum metrics indicate mixed signals. While monthly transactions are rising to levels seen in 2021, typically supporting prices, derivatives data shows a long bias among traders on major exchanges. However, liquidations remain high at $138.93 million across the market.
ETH Consolidation and Macro Support
The total crypto market cap stands at $3.54 trillion, with Ethereum gaining a growing share. The Fear and Greed Index sits at 66, signaling moderate greed. ETF inflows continue, sustaining institutional interest despite recent whale activity.
Thus, despite the recent movements of a large whale, Ethereum continues to exhibit positive signals amid increased institutional demand and a vibrant market.
