The number of addresses holding 1,000 Ethereum coins or more, known as “whale addresses,” has dropped to a 5-year low, according to on-chain analytic platform Glassnode. This decline is attributed to the liquidation activities of long-term Ethereum holders, which may increase the vulnerability of Ethereum to market downturns. One particular wallet liquidated its entire Ethereum holdings, injecting around $4.81 million worth of the altcoin into the market. The article suggests that these developments could jeopardize the value of Ethereum.
AI Sentiment: Negative
