Ethereum whales have purchased approximately 260,000 Ether (ETH) in just 24 hours, amounting to nearly $425 million. This influx of capital into Ethereum comes at a time when cryptocurrency prices are under pressure and regulatory challenges persist. Some analysts attribute Ether’s weakness to dumping by big investors and bearish behavior among large Ethereum holders. There are concerns of an imminent dump as two whales sent 300,000 ETH to Coinbase. Additionally, an analyst suggests that Ether’s continued weakness is due to active selling by futures traders. To see a bullish trend, a shift in behavior among futures traders is needed. At the time of writing, Ether was trading at $1,636.
AI Sentiment: Positive