Over 1.65 million Ethereum (ETH) accumulated in a week by whales
July 25, 2021
July 25, 2021
According to CoinGecko.com, Ethereum (ETH) has gained about 15% in the past seven days. The second largest cryptocurrency is up over 5% for the day. ETH has now risen to over USD 2,100 and is continuing its upward trend. Big addresses (whales) are known to buy when prices are falling and sell when prices rise, but recent information suggests that ETH whales have taken a different path this time around. According to Ethereum’s on-chain activity, whales have bought nearly 1.65 million coins in the past six days.
Whales show this as a gesture of trust. With millions of ethers under their control, their actions can have a significant impact on the trajectory of the digital asset. ETH is the best performing currency of all the top ten cryptocurrencies. As the London upgrade approaches quickly as it is live on the mainnet, the company is seeing a surge in interest.
Some supporters, on the other hand, are cautiously hopeful. CNBC’s Jim Cramer, who had announced a few months earlier that he would sell all of his Bitcoin holdings and jump on the Ethereum bandwagon, announced a few days earlier that he still had the digital currency but would no longer buy it.
🐳 # Ethereum whales holding between $ 10,000 and $ 1 million ETH in their respective wallets now own a total of 60.52 million coins. This is the highest amount held by this tier in 5 weeks and corresponds to an accumulation of $ 1.65 million ETH in the last 6 days. https://t.co/t5iQghjHTG pic.twitter.com/mNLopXwroV
– Santiment (@santimentfeed) July 22, 2021
Other market analysts, including Lark Davis, are particularly optimistic and invest-ready, pointing to the initiative’s prospects for becoming a multi-trillion dollar digital asset. In fact, he’s one of many analysts who believes Ethereum Bitcoin would collapse anytime soon.
Lots of cryptocurrencies have earned their own Twitter jokes lately. Bitcoin, Binance, TRON already and apparently ETH has joined the list. However, this is an Ethiopian flag. Is it possible that Jack Dorsey, who is not a supporter of Ethereum, is making fun of the company?
I remain in my Etherum position, but do not contribute to it …
– Jim Cramer (@jimcramer) July 22, 2021
The meme caused the Olympics to poke fun at the cryptocurrency industry, saying it gathered in Ethiopia. However, Dorsey has now stated that the flag was placed over ETH as it is the abbreviation for Ethiopia.
– Bitcoin Meme Hub 🔞 (@BitcoinMemeHub) July 23, 2021
It’s great to see @jack and the crypto community support the #ETH athletes! 👏
– Olympia (@Olympics) July 22, 2021
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