Whales have made significant transactions in the Ethereum market, causing disruption in the derivative market. Ethereum’s price remained stable, but the derivatives market faced uncertainty. Tokens worth approximately $488 million were transferred to the Coinbase exchange. Ethereum showed a modest profit, but remained in a bearish trend according to its Relative Strength Index (RSI). The direction of the funding rate by September 5th would play a role in determining market sentiment. The recent whale move may be an exchange or market-maker moving Ethereum holdings into different wallets.

AI Sentiment: Negative