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Ethereum is slowly falling below $1,300 against the US dollar. If ETH stays below $1,400 for too long, ETH is at risk of a significant drop. But as the largest altcoin continues to lose money, will whales come to the rescue?
Here is AMBCrypto’s Ethereum price prediction: [ETH] 2022-23
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At the time of writing, Ethereum is trading just below the $1,300 level on Coinmarketcap. This comes at a pretty desperate time for struggling ETH holders, but things are turning around as the ETH billionaire whale posted his highest holdings since September 11th. It may turn around.
Santiment, a well-known analytics platform, reveals the same. According to the data, sSince September 11th, ethereum Billionaire Whale Address Holding Over 1 Million ethereum A total of 3.5 million coins have been added.
Source: Santimento
Here, the Ethereum billionaire amassed ETH, holding an all-time high of 28.55M ETH at press time. With this addition, the Billionaire Whale’s ETH holdings increased by 14% in the period since the merger.Santimento Added,
“This increased our cumulative bag by +14%. We now have 132 such addresses.”
At the time of writing, it is worth around $36 billion. However, according to his supply of ETH holding addresses between 100 and 1 million, here is the surprising part. Dropped More assets than accumulated in August and early September.
This may be one of the reasons why the price of ETH has remained in a highly consolidated or stagnant stage.
But will this time be different?
Well, ETH holders have shown strength. The number of addresses submitted to exchanges (7d MA) hit a two-year low of 500.732.
Source: Glassnode
This shows the bullishness of the holders despite the overall bearish tone across the crypto market. This HODLing makes some sense as his 50% of holders are still profitable while the other half are either in loss or at breakeven.
Do you have any concerns?
Despite intense price corrections, Ethereum has enjoyed demand over the years. Recently, a $4.5 trillion asset management company offered its customers storage and trading of her ETH. Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, offered custody and trading services to institutional investors later this month.
According to an email to Fidelity customers share On Twitter, the crypto department plans to offer a new “institutional Ethereum feature” for institutional investors from October 28, 2022.
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