Exchange Activity of Ethereum Increases Sharply

Ethereum whale activity has increased significantly since the start of this week as large ETH addresses sent approximately 800,000 coins to leading digital exchanges on Monday 23 August 2021.

According to the latest data posted by the crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term firm, Santiment, whale accounts deposited nearly $2 billion worth of Ethereum to crypto exchanges. “779,880 ETHs were sent to exchanges on Monday, the most since June 21st. Ethereum has been sliding a bit today, likely a direct result of this,” Santiment mentioned.

After touching the high of nearly $3,400 on Monday, the price of Ethereum saw a decline of 5% on Tuesday. The world’s second-most valuable digital currency is currently trading near $3,200 with a market cap of $375 billion.

Whale Alert, a leading Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term tracking platform, highlighted the movement of 35,742 Ethereum to an unknown crypto wallet on 24 August. The total value of the transfer stood at $119 million. In a separate transaction, a leading ETH whale address moved nearly $165 million worth of Ethereum to an unknown digital wallet on 22 August.

Active Ethereum Addresses

In the latest report published by Santiment, the company highlighted a jump in the transaction fees of Ethereum and a decline in active ETH addresses. “Fees are picking up, active addresses are going down. Getting expensive to interact. Perhaps it's one of the reasons why we see a divergence between fees and active addresses. Based on previous behavior, we should assume that the addresses are going to decline a little bit. So, we've got a few concerning signals: exchange inflow, address activity are fairly low. Maybe there are some people starting to take profits and you should at least be careful,” Santiment added.

Despite the reason that ETH’s active address activity is showing some weakness, retail and institutional interest in Ethereum products have increased rapidly in the last few weeks. Earlier this month, Finance Magnates reported about the growing popularity of Ethereum in Singapore. Last week, ETH investment products attracted $3.2 million worth of institutional inflows.