🔥 Ethereum Whales Are Active Again
Despite the recent downtrend in ETH prices, Ethereum whales are still accumulating, which is a bullish sign for the second-largest cryptocurrency by market cap.
Key points:
$400 Million in ETH Withdrawals: Recently, ETH withdrawals from exchanges reached their highest level since October last year, totaling over $400 million
Why It Matters:
When whales move large amounts of ETH off exchanges, it usually indicates long-term holding, reducing sell pressure and signaling confidence.
Analyst Insight:
CryptoQuant analyst Arab Chain observed that exchange netflow data shows a clear acceleration in withdrawal activity, suggesting that whales are moving ETH into personal wallets rather than selling.
Takeaway:
Even in a downtrend, smart money (whales) is accumulating ETH, hinting at potential strength and future bullish momentum.
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