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Large holders of ether, or the so-called whales, dropped the cryptocurrency the day before, which provoked a sharp weakening of the ETH rate.
According to Glassnode, last Monday the number of whales holding at least 1,000 coins fell to 6,292, the lowest since April 2017. The researchers note that at the beginning of 2021, the number of Ethereum whales reached 7,239.
ETH price dropped to $ 3900 today. Altcoin has been trying throughout the past week to turn the $ 4,000 mark into a support zone. However, it has remained a zone of strong resistance.
Glassnode notes that the number of wallets holding at least 10,000 coins, worth up to $ 39.2 million each, has dropped by almost 5%. Now only 1156 wallets own this volume of cryptocurrency.
However, retail traders, on the other hand, started buying the drop. According to the same platform Glassnode, the number of non-zero Ethereum addresses this week set a new record (71.23 million).
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