A whale is accumulating a large amount of Ethereum (ETH) despite the recent downward trend in prices. Glassnode’s transfer volume chart shows that over 2 billion ETH, worth over $3.7 billion, were transacted on August 23. This marked the first instance of such a substantial volume in the month. Additionally, there has been a significant outflow of ETH from exchanges, reducing overall liquidity and potentially triggering an upward price movement. The whale has accumulated over 42,000 ETH, worth approximately $72 million. This accumulation trend suggests that the bearish trend in ETH remains strong.

AI Sentiment: Positive