Cryptocurrency analyst Ali Martinez noted that Ethereum whales are exhibiting a change in behavior not seen over the past year. There are between 1,000 and 10,000 medium-sized Ethereum whales, Martinez said. $ETH After a long accumulation period, it has entered a strong distribution phase.
According to the data shared in the analysis, the total amount of Ethereum held by this whale group was approximately 12.95 million $ETH This number peaked at 15.95 million. $ETH However, Martinez said there had been a “regime change” in market behavior since that date.
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According to analysts, the total number of whales is $ETH Holdings have decreased from the peak to approximately 12.52 million shares. $ETH. This represents a decrease of approximately 21.5% in the mid-sized Ethereum whale’s position.
Martinez said this supply pressure in the market could make it difficult for Ethereum to reach the $3,000 level. For prices to rise to this level, new institutional and retail demand may be needed to offset selling pressure from whales, the analyst said.
*This is not investment advice.
