Ethereum whales are going for a rebound as price pick up from its recent lows
About 68 new whales holding 1000 -10,000 ETH have joined the network in the past 3 days.
Ali Martinez, a crypto researcher spoke recently about the Ethereum whales’ increase via his Twitter feed stating that as Ether fell, there was a surge in the number of addresses with millions of dollars in Ethereum colloquially known as whales.
— Ali Martinez (@satoshilatino) September 6, 2020
At the time this report was drafted, Ether traded at $352.28 with a daily trading volume of $23 billion. ETH price is up 5.0% in the last 24 hours. It has a circulating supply of 110 Million coins and a max supply of ∞ coin
What you should know; Nairametrics had in recent times, observed the high movement by these Ethereum whales as these large entities have purchased almost half of all the Ethereum mined so far in 2020
This is clear evidence that major investors are now looking at the future potential of ETH as an investment despite the recent sell-offs recorded in the second most capitalized crypto market.
In addition, the recent boom in Defi tokens is as triggered unusually high volume of transactions on the Ethereum network, often leading to congestion and a surge in transaction fees charged by ETH miners
Quick fact; Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control, or interference from a third party.
Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.