Trade of 64,000 ETH to death today at 05:01 UTC. Here, from an Ethereum address to an unknown wallet. That’s over $102 million. It is certainly one of the biggest crypto transfers recorded in recent years.
Transfer more than 102 million dollars
According to Whale Alert, a transfer of over $102 million was recorded on Etherscan. The transaction was made on August 31st at 05:01 UTC from a prominent Ethereum address to an unknown wallet. This cryptographic movement, which is considered large, therefore occurs after Ethereum has regained the price level of $1,600. Recall that Ethereum is the second largest cryptocurrency in the world in terms of market capitalization. It fell below $1,500 on Tuesday. This is the first in over four weeks, but it seems the asset has since found the hair of the beast.
The first half of 2022 was disastrous, institutional flows related to ETH investment products were down. The report shared by CoinShares looks in particular at the digital asset fund flows of Ethereum products. We find in detail the inputs as well as the outputs for Ethereum products. It is therefore noted that from January to August 2022, the $300 million worth of ETH product releases. By comparison, inflows for BTC products are $275 million over the same period.
Whales continue to accumulate ETH
The whales continued to buy Ethereum. This, even during the last market correction. The launch of Beacon Chain in December 2020 also gave impetus to Ethereum 2.0, the long-awaited network upgrade in the cryptosphere. For Etherscan, the ETH community made the a deposit of 13.4 million pieces especially under the ETH 2.0 staking contract.
For analysts, market sentiment remains the same. In fact, despite the accumulation of crypto and the new transactions recorded, the general sentiment around Ethereum is unchanged. As with all cryptocurrencies, sentiment remains negative, especially over the past 7 days.
The negative attitude maintained by traders
According to Santiment, an on-chain market intelligence platform, many traders have been showing negative sentiment against ETH for the past few days. The week was indeed volatile and investors found themselves with it difficult negotiations. Traders, across exchanges, shorted the highest ratio since June 2021. Note that they repeat the same pattern every time a price dump is observed.
In a recent Twitter post, Santiment says traders’ reaction to the markets was bearish on Friday rated most aggressive since 2022. I hope the situation will improve in the coming days.
More information: Ethereum 2.0: The Merge prompts massive investor bet
