Santiment data shows that the proportion of unlisted ETH whales holding Ethereum in wallets other than exchanges has hit new highs compared to ETH stock exchange whales.
The Santiment Group revealed that Ethereum has rebounded to the level of $ 3,400, the total amount of ethers owned by non-swap whales is 22.91 million ETH. It is five times the number of exchange whales holding 4.6 million Ethereum.
Santiment explained this with a suddenly high percentage, stating that the more difference whales favor that are not offered for exchange, the better.
Previously in July, the top 10 had Ethereum whales collected significant amounts of ETH. They held 20.58% of the total ETH supply in their accounts in mid-July after buying 2.12% of the ETH supply in the slump.
The total value of ETH 2.0 reaches 8 million
On the flip side, the Ethereum 2.0 deposit contract will continue to experience an investment boom (TVL) due to an increase in the total locked value. According to Glassnode, the total value of the ETH 2.0 custody contract exceeded 7,824,674 ETH ATH on October 2nd.
According to market expert Lark Davis, the Ethereum 2.0 upgrade will result in a 90% decrease in daily discharges from 12,800 to 1,280. Ethereum is launching a collection of updates aimed at increasing the effectiveness of the cryptocurrency.
The current Update consists of the London Hardfork and the EIP 1559 update, which triggered the first deflation block on the Ethereum network on August 5th. Also, according to the website etherburned.info, a large amount of Ethereum (409,669 ETH) was released in the 3rd quarter of this year. The amount is approximately $ 1,358,695,270.
The Ethereum price is rising
Ethereum gained trading strength above the $ 3,200 mark. ETH also climbed above the $ 3,300 mark as well as the 100-hour simple moving average. Even so, the price failed near the $ 3,500 mark.
A high developed near $ 3,489 before a downward correction set in, similar to Bitcoin. The price corrected below the USD 3,350 support level. That said, the bulls were active near the $ 3,275 level and the 100-hour simple moving average.
A low developed near $ 3,275 and then the price began rising again. There was a break above the USD 3,350 resistance level. Ether climbed above the 50% Fib retracement level of the downward move from the high of $ 3,489 to the low of $ 3,275.
There was also a break on a falling channel with resistance near USD 3,380 on the hourly ETH / USD chart. It is currently being traded at $ 3,451, up 3% from yesterday’s price.
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