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Ethereum Whales Fleeing, Signs of a Market Sell-Off?

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According to reports, Glassnode data shows that the number of addresses holding more than 100 Ethereum is 47670, a new low in a month.

Data: The number…

Ethereum Whales Fleeing, Signs of a Market Sell-Off?

According to reports, Glassnode data shows that the number of addresses holding more than 100 Ethereum is 47670, a new low in a month.

Data: The number of addresses with more than 100 Ethereum hit a new low in nearly one month

Analysis based on this information:


The crypto market has witnessed an unprecedented bull run over the past few months. The price of Ethereum, the second-largest cryptocurrency by market capitalization, has surged to an all-time high of $4,370 in early May. However, the latest data from Glassnode suggests that the number of whales holding more than 100 Ethereum has hit a new low in a month.

According to a report, there are just 47,670 addresses holding more than 100 Ethereum, which is a significant drop from the previous week. This could indicate that Ethereum whales are fleeing from the market as they anticipate a market sell-off. Whales are investors who hold a large amount of a particular cryptocurrency, and their movements can cause significant fluctuations in the market.

The drop in the number of whales may have a domino effect on the market’s overall stability. If more whales decide to sell off their holdings, the price of Ethereum could plummet, causing panic among retail investors. This could lead to a massive market sell-off, which we have seen before in the crypto world.

However, it is essential to note that the drop in the number of whales is not necessarily a bad thing. It could mean that Ethereum is becoming more decentralized as more retail investors buy into the cryptocurrency. Additionally, it could mean that whales are diversifying their investments or moving their funds to other cryptocurrencies.

Nonetheless, the drop in the number of whales comes amid increased pressure on the crypto market. The market has been grappling with regulatory scrutiny, with some countries imposing stringent measures on the crypto market. This has led to a dip in the price of cryptocurrencies, including Ethereum.

In conclusion, the latest data from Glassnode suggests that Ethereum whales are fleeing the market, which could be an indication of a market sell-off. However, this is not necessarily a bad thing, as it could mean that Ethereum is becoming more decentralized. Nonetheless, the crypto market is still under pressure, and any signs of instability could cause panic among investors.

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