Reading time: ~2 m
The new week started with a fall in the cost of bitcoin and other digital currencies. Ethereum (ETH) has fallen again to its lowest level since November 10.
On the night of Tuesday, November 22, the ETH rate fell to $1105, and there were risks of a rollback below $1000.
However, the largest ETH addresses controlling from 100 to 100,000 coins took advantage of the fall of the leading altcoin.
In a two-week period, whale and shark wallets have accumulated the largest amount of Ether since July 2021, the Santiment report said.
Investors stepped up at the moment when ETH, amid the collapse of the FTX exchange, began to lose value along with bitcoin. The whales’ air reserves rose by about 3.5%, analysts said.
According to WhaleAlert, large cryptocurrency holders are withdrawing ETH to off-exchange storage. A total of almost 400,000 ETH, worth up to $445 million, was withdrawn from several trading platforms by whale addresses.
About 300,000 coins have been withdrawn from the UpBit platform. Approximately 99,900 Ether worth $12.4 million left the Bitfinex exchange and were redistributed among several anonymous wallets.
According to CoinGlass, over the past 24 hours, $40 million worth of Ethereum positions have been liquidated in the futures market. 85% of them turned out to be long-term.
#Whales #Ether #OTC #storage