Ethereum Price Analysis

Ethereum price analysis; The whales are accumulating ether


Intra-chain analysis and the status of Ethereum indices show that ether whales are accumulating this digital currency.

to the Report In a recent article, NewsBT, the cryptocurrency states that the state of Ethereum’s indexes indicates the possibility of continued accumulation of this digital currency by whales. Cryptocurrency refers to the net volume of capital transferred from / to exchanges, the inventory of exchanges and the number of unique addresses of Ethereum 2.0 as three important indicators.

The net volume of capital transferred from / to the exchanges represents the outgoing and incoming capital to all digital currency exchanges. When this index is negative, it indicates that the number of currencies leaving the exchange offices to personal wallets is more than the currencies entering the exchange offices. It can be said that when this index becomes negative, the buying pressure in the market is higher and investors are more inclined to hold their currencies.

On the other hand, when this index is positive, the amount of capital inflows to exchange offices is more than the outflow capital, and it can be concluded that the selling pressure is greater than the buying pressure.

Ethereum price analysis;  The whales are accumulating ether

As can be seen in the chart above, this recent indicator has entered the negative range. In most cases, with the negative of this index, the price of assets increases; The current uptrend can also be considered the result of this negativity.

The total inventory of exchange offices is another indicator that should be considered. This index calculates the balance of exchange offices’ wallets. If the stock of exchanges increases, it means that investors will transfer more ether to the exchanges. On the other hand, a decrease in inventory indicates the assimilation of assets in personal wallets. The chart below shows the inventory of exchanges.

Ethereum price analysis;  The whales are accumulating ether

As you can see in the chart above, the stock of exchange offices seems to have been declining in recent months. Ethereum price trends during this period are also consistent with inventory changes. The decline in stock exchanges indicates that whales continue to accumulate Ethereum and are reluctant to sell.

Ethereum price analysis;  The whales are accumulating ether

Unique Ethereum 2.0 addresses are another indicator to look out for. This index calculates the number of accounts that have shared 32 ethers. Ethereum’s share addresses are also rising as whales become more interested in sharing their currencies.

Ethereum price analysis;  The whales are accumulating ether

The price of each Ethereum unit has now risen 1.5 percent to $ 3,270. Ethereum prices have risen sharply in recent weeks.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button