Whales, or large holders of Ethereum (ETH), have been selling off large amounts of their holdings. One whale recently liquidated 10,600 ETH, resulting in a loss of $2.9 million. Despite this, retail investors have shown enthusiasm for Ethereum as the number of non-zero addresses reached an all-time high. However, the overall market sentiment for Ethereum seems to be declining, with a decrease in new user onboarding and a slowdown in network growth. The MVRV ratio suggests that many ETH holders are not realizing profits at this time. While the NFT sector remains stable, general network activity and trading frequency have decreased. It is important to note that this information is for informational purposes only and should not be considered investment advice.
AI Sentiment: Neutral
