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As the general feeling in the crypto market remains strongly bearish, Ethereum It intensified, while the second digital asset in capital letters fell to the $3,800 level. Meanwhile, ETH’s major investors began to show confidence in the Altcoin price trend, indicating a decline in their participants (Whale Holtings).
The number of Ethereum whales continues to decline
The sentiment of major investors has become pessimists as Ethereum prices plummet. Joao Wedson, a market expert and founder at Alphras, revealed a significant change in investor sentiment: the number of whales, that is, the number of those with a lot of ETH continues to decline.
This decline suggests that large holders may be moving their engagement, which could bring greater market power to small investors and new enthusiasts. Although the decline in whales’ dominance is sometimes interpreted as a sign of decentralized and healthier market dynamics, it may also indicate a sense of caution in the face of evolving market conditions.
Since the whales left, their control over the market has declined compared to other major investors. According to market experts, ETH investors holding 10,000 to 100,000 ETH (shark) are now at the forefront of the market.
“Sharks” accumulate, whales are for sale
As the whale clears its position, the shark continues to accumulate altcoins at a constant rate. As a result, these investors now control a larger market share, even if the sentimental generals are still mixed.
Wedson stressed that Gini’s coefficient has climbed again after its recent decline. This shows that the inequality of Ethereum distribution is increasingwith ETH’s concentrated power shifting to more abundant addresses, especially sharks. In other words, those who accumulate and guess on ETH are now investors of medium-sized entities, funds and average capital.
On the other hand, Wedeson stressed that whales are usually exchangeLarge funds or former miners who constantly sell their positions to new investors or buyers. The inequality in the network has increased again as sharks buy multiple coins instead of smaller holders.
Increased storage addresses drive prices
Current purchasing pressure waves lead to Ethereum accumulated address, Thus, the average price (average realized price).
Marketing expert Burak Kesmeci reports on the increase in cumulative addresses Recent posts on crypto platforms. The data suggests that the average price of ETH storage addresses is currently around $2,900.
With the ETH rallies of ETFs, this level has increased rapidly from $1,900. In more negative cases, this level can represent a solid foundation for the Altcoin path. At the same time, the total balance of the storage address increased to approximately 27.6 million ETH.
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