Ethereum whales have been on a buying spree over the past month, as reported by crypto analytics firm IntoTheBlock. According to the data, whale wallets holding more than 0.1% of the total Ethereum supply have added over 1.7 million ETH to their combined holdings in the last 30 days.
Interestingly, there were only a few instances of net outflows among these Ethereum whales in the past month, with the majority of days showing net inflows. In just the last two days, these whales accumulated a whopping 175,000 ETH, indicating a strong trend of accumulation and confidence in the future of Ether.
As of now, ETH is trading at $2,604. While the cryptocurrency has seen a slight decrease of 0.5% in the past day, it has surged by more than 9% in the last week and over 11% in the last month, showcasing its resilience and potential for growth.
On the other hand, market sentiment for Bitcoin is described as “booming” by IntoTheBlock, with 95% of BTC addresses currently in profit. This high level of profitability historically indicates strong bullish momentum, although there is a possibility of overextension in the market.
At the time of writing, Bitcoin is trading at $67,071. Despite a minor drop of nearly 1% in the past 24 hours, the leading cryptocurrency has seen a significant increase of almost 12% in the last week, highlighting its stability and attractiveness to investors.
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