The bull trend currently in play amidst the record sell-offs seen yesterday has kept Ethereum whales very busy. This confirms the bias that the bearish days look numbered and never again will Ether trade below $200 support, taking to account recent price actions coming to play.

What we know: Data retrieved from Whale Alert, an advanced crypto tracker revealed an unknown crypto entity moved 154,245 ETH ($78,168,076 ) from an unknown wallet to an unknown wallet.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 154,245 #ETH (78,168,076 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/JaT7f7L13z

— Whale Alert (@whale_alert) November 26, 2020

What this means: Such movements have been tracked by Nairametrics on the bias revealing large entities have purchased almost half of all the Ethereum mined so far in 2020, pushing the value to rise over 150% from March 2020.

• This is clear evidence that major investors are now looking at the future potential of Ethereum as an investment, despite the recent sell-offs recorded in the second most capitalized crypto market.
• Ethereum supports smart contracts on which developers can write code in order to program digital value.
• Examples of decentralized apps (dapps) that are built on Ethereum include tokens, non-fungible tokens, decentralized finance apps, lending protocol, decentralized exchanges, and much more.

At the time of writing, the second most valuable crypto by market value traded at $526.21 with a daily trading volume of $23,939,794,283 USD. Ethereum is down 1.44% in the last 24 hours. The market capitalization of Ethereum stood at $59.77 Billion.

What you should know

• Crypto holders or entities who own a large number of Ethereum are typically called Whales.
• This means that an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.

It appears the bulls driving Bitcoin upward lately have momentarily gone out of steam. Bitcoin prices plunged by more than 15%, approaching the $17,000 level, after reaching as high as $19,580, owing to heavy losses as large investors cash in on some of their Bitcoin holdings.

READ: Why Bitcoin suddenly lost $1,000

• The crypto lost $2,000 in a matter of few hours, falling around $17,000 before it sprang up back to the $17,900 price level.
• Taking into consideration that most bitcoin wallets are in profit, unsurprisingly, some investors are already cashing out some of their gains amid the end of a turbulent 2020.
• That said, its recent price action shows its tilting towards an overbought position.

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At the time of writing, Bitcoin price was $17,890.84 with a 24-hour trading volume of $33,259,413,581.

The Head of the blockchain intelligence platform further anticipated the likelihood for Bitcoin to go through a period of correction, as more investors deposit their BTC on Coinbase.

READ: President Trump’s action triggers Ethereum plunge

“Too many BTC whales on Coinbase. I’m still long-term bullish, but we might face some corrections or sideways until whales become inactive on spot exchanges.”

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Should you buy it?

Although it’s more likely that some Bitcoin whales increase their purchases when prices drop to these levels, Nairametrics, envisages cautious buying, as the volatility in this fast-changing market, could lead to a significant loss of capital.

However, if things get really terrible, Nairametrics believes this could be another chance to buy bitcoin below $15,000.

READ: $66.5 billion worth of Bitcoin lost forever

What you should know

Recall Nairametrics exclusively broke the news on how a crypto strategist, Ki-Young Ju, recently warned on the high influx of big-time Bitcoin holders moving a significant portion of their BTC holdings to a well-known crypto exchange, Coinbase, obviously to cash out, amid the bullish trend currently in play.

Crypto bears have taken a brief hold on the second most valuable crypto by market value. Ethereum dropped more than 10% after reaching above $600 some hours ago.

• At the time of writing this report, it traded at $553.53 with a daily trading volume of $16,372,458,478.
• It has a circulating supply of 110 million coins and a max supply of ∞ coins.
• It wasn’t all bad news for Ethereum stakeholders, as the number of Ethereum Non-zero Addresses just reached an ATH of 49,977,938.
• Previous ATH of 49,974,788 was observed earlier today, showing that buying interest in the ever-changing crypto market might just be a temporary pullback.

READ: U.S top regulator speaks on Cryptos and future of banking to U.S Congress

📈 #Ethereum $ETH Number of Non-zero Addresses just reached an ATH of 49,977,938

Previous ATH of 49,974,788 was observed earlier today

View metric:https://t.co/beS1MtIgAZ pic.twitter.com/ir42TmyESB

— glassnode alerts (@glassnodealerts) November 25, 2020

What you should know

Ethereum is a global, open-source platform for decentralized applications. In other words, the vision is to create a world computer that anyone can build applications with, in a decentralized manner, while all states and data are distributed and publicly accessible.

READ: FIRS rakes in N4.178 trillion revenue, achieves 98.6% of revenue target

The native currency that flows within the Ethereum economy is called Ether (ETH), which is typically used to pay for transaction fees and also the base currency of the network.

On Ethereum, all transactions and smart contract executions require a small fee to be paid, which is called Gas. In technical terms, Gas refers to the unit of measure on the amount of computational effort required to execute an operation or a smart contract.

READ: Africa’s internet economy has the potential to reach 5.2% of the continent’s GDP by 2025 – Goggle/IFC

What they are saying

ETH sellers should be cautious of a reversal, on the bias that the world’s biggest crypto hedge fund, Grayscale, revealed huge buying interests prevailing at the Ethereum market.

On its Twitter feed, it said: “It’s become clear there’s a strong demand for Ethereum investment products. In our 3Q20 investment report, we saw the largest investment into Grayscale Ethereum Trust ever, with over $202 million in quarterly inflows.”

READ: THORchain, most profitable crypto in the last 24 hours

Explore Data on the Nairametrics Research Website

It’s become clear there's strong demand for #Ethereum investment products. In our 3Q20 investment report we saw the largest investment into Grayscale Ethereum Trust ever, with over $202 million in quarterly inflows. Tap into the $ETH market with Grayscale. https://t.co/nai0ToEioQ

— Grayscale (@Grayscale) November 25, 2020