The on-chain analytics business Santiment tweeted a message of support for the ETH-holding segment of the crypto community.
According to the tweet, ETH is currently trading around $1,700, and many traders are getting impatient because of it. The latest price decline from the $1,741 level could be a sign that many wallets are dumping ETH right now and will keep doing so as long as it remains at the present price level.
However, Santiment said that when traders start to sell their cryptocurrencies at lower prices, the likelihood of a price comeback increases, citing instances of similar circumstances in the past.
Vitalik Buterin moves 3,000 ETH
The Ethereum chain’s cofounder and leader, Vitalik Buterin, moved 3,000 Ethereum (valued $4.95 million at the time of the transaction) to a wallet called Vb2, as U.Today revealed earlier this week.
Within the crypto world, this transaction prompted a surge of interest and frank comments. Some theorise that Buterin may have done this to redistribute his cryptocurrency fortune and shield it from potential hacks. The second version was predicated on Buterin being able to withdraw this $5 million.
Dormant whale awakes after two years
A whale that had lain asleep for two years has recently awoke and deposited 6,087 ETH to Binance, according to the “Smart Money” wallet tracker @lookonchain, who frequently releases statistics on the transactions they do and how much money they lose or gain.
Given that it is worth $10.23 million in currency, this sum is also fairly substantial. Ethereum is now being traded at $1,715 following a recent price drop. It is quite possible that this whale is either selling at a loss or shifting money to Binance in anticipation of an impending increase in the price of ETH before making a sale on Binance.
