Cover image via U.Today

With Ethereum experiencing a temporary price dip, there has been a notable trend emerging that could have long-term implications for the cryptocurrency's value.

Analysts and investors are closely watching the rising whale transactions on the Ethereum blockchain, especially among large holders of ETH. These transactions involve significant amounts of cryptocurrency, often exceeding $100,000.

The surge in whale transactions on the Ethereum blockchain is being seen by some analysts as an indicator of where the cryptocurrency's price may be headed in the future.

Despite the recent correction in Ethereum's price, there has been an increase in whale transactions, which could be interpreted as a positive sign for ETH's future price movements.

Historically, whale activity has been linked to major price shifts, often signaling institutional interest or accumulation. The recent surge in whale transactions could suggest underlying confidence in Ethereum's long-term prospects, despite short-term price volatility.

At the time of writing, ETH had dropped by 0.25% in the last 24 hours to $3,545.

Update on Ethereum Block Incident

Discussions on the recent missing block incident within the Ethereum network took place among developers during the most recent ACDE call, a bi-weekly meeting series focusing on coordination changes to the execution layer (EL) of Ethereum.

On March 27, an unusual uptick in missing blocks was observed. Typically, 2% to 4% of blocks are missing every 30 minutes on Ethereum. However, during a period of high blob transactions, this percentage surged to over 14% in just a few hours, with blob prices soaring tenfold.

Ethereum developer Terrence Tsao reported that the missing block issue was swiftly resolved by the Bloxroute team turning down their MEV relay. Details about the root cause of the relay troubles are still unclear, but Bloxroute is actively working on a fix and will provide a thorough post-mortem on the issues in the near future.

Furthermore, ETH developers have greenlit two retroactive Ethereum Improvement Proposals (EIPs) for inclusion in the upcoming Prague/Electra upgrade: EIP 7610 and 7523.