Between July 1 and present, significant Ethereum (ETH) accumulation by 23 whales has increased market volatility.
Impact of Whale Accumulation on Ethereum Market
According to Lookonchain, 23 high-net-worth individuals have purchased a total of 681,103 ETH valued at $2.57 billion. These activities influence the liquidity and volatility of Ethereum, raising speculation about potential market shifts.
Market Shifts Due to Whale and Institutional Accumulation
During this period, whales and institutional investors have actively accumulated ETH, with some addresses, such as 0xd5ff, making nearly $3 million in profits from ETH long trades in just four days. Such accumulations lead to liquidation patterns that may create additional price volatility for ETH.
Current Ethereum Prices and Historical Patterns
As of now, Ethereum's price stands at $3,793.60, with a market capitalization of $457.93 billion. Trading volumes in the last 24 hours reached $43.30 billion, reflecting a 36.35% increase. Historically, such whale activities have often preceded significant market changes.
The observed whale activity may signal potential market corrections and increased volatility, though regulatory consequences remain speculative.
