Ethereum, the second-largest cryptocurrency, has increased by 12.3% over the past seven days. Interestingly, Ethereum has held its ground firmly, supported by a clean uptrend that began after the sharp recovery from $1,550 that kicked off on Tuesday. Related Reading: Ethereum To Hit $5k Before Its 10th Birthday, Justin Sun Says As it stands, the Ethereum price is at an important technical phase after retesting the $1,799 resistance level and pulling back into its final intraday support zone. A fresh push above $1,800 could open the door to $1,840 and beyond, whereas deeper retracements would test three important zones. Ethereum Turns Resistance Levels Into Support Ethereum’s recent rally has seen it break past three notable resistance levels that have rejected its price action for most of April. Interestingly, these resistance levels are located at $1,590, $1,654, and $1,703, as indicated by a technical analysis of Ethereum’s price action on the hourly candlestick timeframe chart on the TradingView platform. Following these breakouts, Ethereum continued to push upward with momentum until it encountered a tougher ceiling near the $1,800 mark. After briefly tapping into this zone, the price experienced a minor rejection, retracing back towards $1,730 before finding support and beginning another gradual climb. As it stands, the resistance at $1,800 is the next level to beat in the hopes of a close above $2,000 before the end of April. Nonetheless, even if Ethereum does not reach this level, a bullish sentiment will still be in place if it manages to hold above the broken resistances, which have now turned to support on the H1 timeframe. Ethereum Could Still Be Bullish Unless $1,654 Breaks Ethereum’s outlook remains bullish as long as the newly reclaimed levels at $1,590, $1,654, and $1,703 continue to act as reliable support zones. The first zone, positioned at $1,703, represents a short-term hourly support level. This area may attract early entries, but it is high-risk and prone to breaking easily. Beneath that lies the more structurally significant support at $1,654, which is also evident on the 4-hour chart. This level is a medium-risk zone, characterized by a cleaner and sound area of demand. It has a higher probability of initiating a bounce if tested, and its preservation is important in maintaining a short-term bullish bias for Ethereum. The strongest support level is at $1,590 and is somewhat low-risk for reentry. It has the most favorable risk-to-reward ratio, where smart money traders are likely to accumulate. Related Reading: Ethereum ‘Heating Up’ – Address Activity Jumps Nearly 10% In 2 Days As long as Ethereum stays above $1,703, the current uptrend remains valid. The bullish bias remains intact unless there’s a confirmed break below $1,654. A drop below the $1,654 support would shift the short-term outlook to neutral or bearish. On the other hand, a successful close above $1,800 could cascade toward the next target around $1,840 or even higher. Featured image from Unsplash, chart from TradingView
Solana’s price action over the past 24 hours has been marked by a decisive move above the $135 level, a development that could signal growing bullish momentum. This breakout follows several days of sideways movement, during which the Solana price traded within a narrow range between $124 and $135. Related Reading: Whales Swallowing Bitcoin Fast — Will This Push BTC Price Up? Although the recent move above this consolidation zone hints at a potential upward continuation, on-chain data reveals that significant resistance awaits near $144, which may serve as the next major test for bulls. Levels That Will Define Next Solana Breakout According to a post on social media platform X by crypto analyst Ali Martinez, Solana’s current trading range between $129 and $144 is very important to how it goes from here. Particularly, Martinez noted that the most important support for the Solana price is at $129, while the key resistance to watch sits at $144. This commentary aligns closely with the data shown in a chart shared by the analyst, sourced from Glassnode’s UTXO Realized Price Distribution (URPD): ATH-Partitioned model. The volume bars shown in the URPD data below indicate that Solana’s price is boxed in between dense clusters of buying and selling activity. The tallest concentration is currently around the $129 to $144 region. The chart highlights that roughly 5.75% of all the current realized volume for SOL occurred near the $129 price point, making this level a strong support zone. Interestingly, its importance was reinforced on April 17, when Solana’s price rebounded sharply after briefly dipping to this level. Similarly, the $144 level also holds about 5% of the volume, acting as a resistance ceiling in the short term. This price zone previously rejected bullish attempts in the final week of March, confirming it as a short-term ceiling for upward momentum. Together, these two levels form a tightly contested range, and a breakout beyond either boundary will likely dictate whether Solana enters a new bullish leg or retraces further. Image From X: Ali_Charts The UTXO Realized Price Distribution (URPD): ATH-Partitioned Model The UTXO Realized Price Distribution (URPD): ATH-Partitioned is an advanced on-chain metric that maps out where current coin holders acquired their tokens in relation to the all-time high (ATH). When a price level shows a high concentration of realized volume, it implies that a significant number of tokens were bought at that level. These clusters tend to act as psychological support or resistance, since holders may be more inclined to defend breakeven zones (support) or exit at previous loss zones (resistance), depending on market sentiment. Related Reading: BNB Weathers The Storm Better Than Altcoins, Stats Show In terms of market sentiment, current market sentiment is gradually turning bullish for Solana, and the recent break above $135 puts the $144 level in focus, at least in the short term. The price could reach there this new week, or a drawdown in sentiment could bring the $129 into focus as the level to hold. At the time of writing, Solana was trading at $139, up by 3.6% in the past 24 hours. Featured image from Mudrex, chart from TradingView
Solana appears to be gearing up for a major technical breakout, with recent price action building up an interesting chart formation. A familiar bullish pattern has formed, and if validated, it could drive the price to a level not seen in recent weeks. This new development was highlighted by popular analyst Titan of Crypto on social media platform X. Pattern Breakout Sets $143 In Sight Like every other large market-cap cryptocurrency, Solana has experienced an extended period of price crashes since late February. In the case of Solana, this price crash has been drawing out since January, when it reached an all-time high of $293 during the euphoria surrounding the Official Trump meme coin. Since then, Solana has corrected massively, even reaching a low of $97 on April 7. Related Reading: Bitcoin Maxi Takes Aim: Ethereum’s True Value? Lower Than You Think The price action before and after this $97 low has created an interesting formation on the 4-hour candlestick timeframe chart. As crypto analyst Titan of Crypto noted, this formation is enough to send Solana back up to $143. At the heart of the latest bullish outlook is a clearly defined inverse head and shoulders structure, which is known for its reliability in signaling a reversal from a downtrend to a bullish breakout. The left shoulder of the pattern began forming in early April as Solana attempted to rebound from sub-$110 levels. The subsequent drop to the $96 bottom on April 7 formed the head of the structure. From there, a recovery started as buyers cautiously stepped back in, giving rise to the right shoulder. The breakout of the neckline resistance has taken place in the past 24 hours. With this in mind, Titan of Crypto predicted that $143 becomes the next logical destination based on the measured move from the head to the neckline. Image From X: Titan of Crypto Momentum Strengthens With Structure Confirmation Looking at the chart shared by the analyst, the momentum behind Solana’s price movement appears to be gaining strength. Trading volume is an important metric in evaluating the strength of a breakout, and the volume accompanying the recent breakout above the neckline seemingly confirms it. Particularly, Solana has seen a 5.3% increase in its price during the past 24 hours, with trading volume surging by 3.76% within this timeframe to $4.21 billion. Although it is common to see a throwback or minor consolidation just above the neckline, the projected path suggests continued upside as long as price action holds above that key breakout zone. Related Reading: From Joke To Juggernaut: Dogecoin Value Revolution Gets Nod From Global Asset Giant At the time of writing, Solana is trading at $129, 10% away from reaching this inverse head-and-shoulder target. A move to $143 would not only represent a meaningful recovery from April’s lows but could also improve the confidence in Solana’s price trajectory moving into Q2. The next outlook is what happens after it reaches this target of $143, which will depend on the general market sentiment. Featured image from The Information, chart from TradingView
Ethereum and Bitcoin went through very different trajectories in the first quarter of 2025, and the divergence could not be more obvious. According to data from on-chain analytics firm IntoTheBlock, Ethereum underperformed significantly, dropping nearly 50% in value over the past three months. Related Reading: Bitcoin’s Safe, Saylor Says, While Trump Waves The Tariff Sword Bitcoin, though also correcting, saw a smaller decline below 15%. This reflects a broader trend in the crypto market where inflows and interest went toward Bitcoin and a few altcoins, leaving Ethereum struggling to regain momentum. Ethereum’s Underperformance Vs. Bitcoin In Q1 Bitcoin began Q1 on a notably bullish trajectory due to increasing institutional interest and strong inflows into Spot Bitcoin ETFs, a combination which pushed the price to a new all-time high of $108,786 on January 20. This price marked the peak of a steady upward movement that has placed Bitcoin firmly in the spotlight since October 2023. However, a pronounced downtrend followed this peak, particularly in March, when the Bitcoin price dipped below $80,000 for the first time since November 2024. An already struggling Ethereum price fared much worse and broke below a strong support of $1,900. Bitcoin has shown resilience since this break, bouncing back above $83,000 and even recently touching $87,000. On the other hand, Ethereum continues to trade below $1,900 and is now at risk of losing $1,800 and breaking below. According to data from Cryptorank, Ethereum closed Q1 2025 with a 45.3% decrease from its quarterly open. This marks the second-worst Q1 performance for Ethereum, behind a 47.5% decline in Q1 2018. Bitcoin, on the other hand, ended Q1 2025 with an 11.7% decrease from its opening price. Image From X: IntoTheBlock Ethereum Price Direction: $1,800 On Crosshairs With Cautious Bullishness Ethereum’s decline has been amplified by a visible drop in trading interest and inflows even in Spot Ethereum ETFs. Most of the attention has been on Bitcoin, with Solana, Dogecoin, and XRP taking the most significant share of interest in the altcoin market. Nonetheless, many crypto analysts are still bullish on Ethereum and are on the outlook of a bounce as it is now nearing a bottom around $1,800. According to a crypto analyst (@CryptoELlTES ) on social media platform X, Ethereum at $1,800 is the bottom. This outlook is based on this level, which acted as resistance in the 2022 bear market and is expected to flip to become support. Another analyst (Crypto Fella) noted that a reversal at this point “would be very good for alts,” suggesting a possible broader market recovery for altcoins if Ethereum finds solid footing here. Image From X: @CryptoELlTES Related Reading: Solana Slammed By Whale Dump—Can It Recover Or Is More Pain Ahead? At the time of writing, Ethereum is trading at $1,803, down by $0.18% and 1.9% in the past 24 hours and seven days, respectively. Featured image from Pexels, chart from TradingView
Some crypto traders might see Ethereum’s price decline as a bad sign for their investments and could be pondering if they should offload their holdings. Meanwhile, whales view the altcoin’s price dip as an opportunity that they must seize by increasing their holdings while the price is down, leading to large investors buying a huge volume of Ethereum in the last three days. Related Reading: 1 Million Bitcoin In New Whale Hands—A Mega BTC Rally On The Horizon? ETH Trading Below $2,000 Analysts said that Ethereum’s price continues to fall as the broader cryptocurrency market is currently experiencing a challenging situation. Data showed that the world’s largest altcoin struggles to gain an upward momentum and continue to stumble below $2,000. As of writing, Ethereum is traded at $1,988 per coin, with a market cap of nearly $240 billion. According to CoinGecko, since ETH hit $3,640 per coin on January 6, the crypto has been steadily decreasing in value with its first major dip happening on January 14, after hitting $3,007. On February 3, the coin slid further reaching $2,460 and dropped to $2,100 on February 28. Ethereum hit below $2,000 for the first time on March 11. Since then, ETH has been having trouble keeping itself above $2,000. Whales bought over 120,000 #Ethereum $ETH in the last 72 hours! pic.twitter.com/kuZY6u9drS — Ali (@ali_charts) March 21, 2025 An Opportunity In The Dip? Ethereum struggling to maintain itself at the $2,000 level might worry many crypto traders, but large-scale investors saw an opportunity in the price dip. Whales used this situation to buy more ETH and further increase their holdings. Crypto analyst Ali Martinez commented in a post that ETH price decline attracted large investors to increase their buying activity. “Whales bought over 120,000 #Ethereum $ETH in the last 72 hours,” Martinez said. The analyst presented a chart that showed a spike in the whale ETH accumulation coinciding with the coin’s price decline, adding that Ethereum’s retreat allowed whales to acquire more than 120,000 ETH tokens with a value of about $236 million and they only did that in three days. “That’s a significant move by the whales! Their accumulation often indicates confidence in the market. It’s fascinating to see how these big players can influence price trajectories,’ Agent Snek commented on Martinez’s post. Whale Buys Over 7,000 ETH Meanwhile, data analytics platform Lookonchain tracked a whale who added nearly $14 million worth of ETH. “A whale bought 7,074 $ETH($13.8M) today! The whale withdrew 4,511 $ETH($8.81M) from #OKX 3 hours ago and deposited it into #Aave,” Lookonchain said in a post. Related Reading: Ethereum Supply Squeeze? 10-Year Low Ignites Price Speculation The analyst added that the whale did not stop depositing in Aave, a decentralized finance platform. The large investor borrowed five million USDT from Aave and put it into OKX to purchase an additional 2,563 ETH tokens worth $5 million. Featured image from Pexels, chart from TradingView
Ethereum, like the broader crypto market, has experienced a sharp drop in price in recent weeks. From a high of $3,352 at the start of 2025, Ether now trades around $1,800 and $1,900, reflecting a sharp drop to the world’s second-biggest crypto by market cap. Looking at Ether’s bigger picture, it’s down 47% from last year’s value. Related Reading: XRP To Triple Digits? Analyst Confident In $100 Price Goal If we go by the latest analyses and observations from commentators, Ether’s price correction will likely be extended. The altcoin is facing a huge bearish wave, with plenty of market factors undermining its price performance. One significant factor is Standard Chartered’s recent decision to cut its price prediction by 60%, confirming market expectations. News: Standard Chartered slashes ETH price target! ???? The bank cuts its 2025 ETH forecast from $10K to $4K, blaming Layer-2 networks like Base, which they say has drained $50B from Ethereum’s market value.#Ethereum #ETH #Crypto #Layer2 #Base #Blockchain — Andres Meneses (@andreswifitv) March 17, 2025 Ethereum Faces A Descending Channel Ethereum is currently in a price slump, and many experts expect a much deeper dive in the next few weeks. Ether’s price is currently floating above the $1,900 level as it continues its bearish price movements. Analysts use the MACD indicator to verify and confirm the asset’s bearish sentiment. Also, the asset’s moving averages suggest a neutral trend and possible price consolidation. Ethereum (ETH) remains in the correction zone today, trading around $1,874. The price continues to move in a descending channel, indicating a possible continuation of consolidation. Moving averages confirm the neutral trend: the price is holding below the 50-day and 200-day MA,… pic.twitter.com/R3vNqFBDkZ — LVelarde (@0xvelarde) March 17, 2025 According to a crypto user named “LVelarde,” Ether’s price continues to follow the descending channel, suggesting price consolidation. The asset’s price is consolidating below its 5-day and 200-day moving averages, with traders looking for possible rejection or breakout. Since it fell below $2k, sentiments have been generally bearish, with many questioning its future price trends. Standard Chartered Cuts Price Estimates For Ethereum Even some of the biggest banks, like Standard Chartered Bank, are lowering their expectations of Ethereum. From a high of $10,000, the bank is reducing its price target to just $4,000, explaining that the Layer 2s are impacting its bottom line. The bank added that changes and improvements to the blockchain affected its overall value, like its shift to the proof-of-stake and scaling roadmap. Standard Chartered used Coinbase’s Base Layer 2 as an example, suggesting that the project has cost Ethereum $50 billion from its market cap. According to Geoff Kendrick, Standard Chartered analyst, Ethereum’s losses will continue as Base’s dominance in the industry continues. Kendrick calls this the blockchain’s “midlife crisis”, adding that Ethereum’s chain has become a commodity with its Layer 2 framework. Related Reading: Solana Marks 5-Year Journey – 400 Billion Transactions And Counting Things Ethereum Can Do To Address Its Slide According to Kendrick, Ethereum can address its downturn in two ways. First, it can leverage its security-based dominance in the context of the tokenization of real-world assets (RWA). If Ethereum focuses on security, it can maintain its 80% market share. Second, it can charge taxes for its Layer 2s, but it’s highly unlikely. Kendrick expects Ethereum to continue its underperformance in the short term. Featured image from Bloomberg, chart from TradingView
A well-known cryptocurrency marks its anniversary by celebrating the milestones it has achieved over the years such as its incredible growth that made it one of the top digital assets in the space. In the last five years, Solana has attained nearly $1 trillion in DEX trading and processed more than 400 billion transactions. Related Reading: XRP $15 Breakout? Not A Far-Fetched Idea—Analysis Five Successful Years Since Solana was created on March 16, 2020, the crypto has grown to become one of the top 10 digital assets today. In an X post, Solana shared what it has accomplished over the course of its half-a-decade existence, citing that it has facilitated over 408 billion SOL transactions, more than 1,300 validators, and at least $987 billion in volume. Happy 5th birthday Solana fam! ???? 408+ billion transactions. 1,300+ validators. $987+ billion volume. Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we’re just getting started ???? pic.twitter.com/p89PynhjpJ — Solana (@solana) March 16, 2025 According to CoinGecko, Solana holds the 6th place in cryptocurrency in terms of market capitalization. Meanwhile, SOL occupies the 9th spot in the Coinbase crypto, which is based on relative market cap. “Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we’re just getting started,” SOL said in a post. Solana Growth By The Numbers Analysts said that Solana, a crypto born together with the pandemic, owes its growth to its system which speeds up its transaction processing, allowing the digital asset to increase at a low cost. Data showed that since its mainnet went live in March 2020, the crypto has generated over 254 million blocks, adding that Solana has become a major force in the decentralized finance space. According to DeFiLlama, Solana has more than $7 billion in total value locked in its protocols. On the other hand, SOL’s stablecoin is also doing well after posting $11 billion. Although this figure is a bit lower than the $12.6 billion recorded in February 2025. In terms of market capitalization, Solana has about over $65 billion, which is a big drop from its peak of $127.5 billion. As of writing, SOL is being traded at $127 per coin, which is 1.2% down in the last 24 hours. Bouncing Back Market observers said Solana was greatly affected by the bear market in 2022 and the collapse of the crypto exchange FTX, wherein investors saw its mark cap plummet by 96% to only $3 billion. Sam Bankman-Fried’s FTX bought an estimated 58 million SOL tokens worth $7.4 billion at today’s value. However, in November 2022, FTX filed for bankruptcy, leading to a decrease in SOL’s price and hitting $8.30 per coin in December 2022. Related Reading: 200 Million XRP On The Move—Is Ripple Preparing For A Big Play? It might face many challenges in 2022 but SOL showed its resiliency and made an impressive comeback in 2023, growing its market cap from $3 billion to more than $140 billion, as of January 19, 2025. Featured image from Pexels, chart from TradingView
The Ethereum Foundation has announced a significant shake-up in its leadership ranks, appointing two new co-executive directors as it embarks on a fresh strategic direction. Hsiao-Wei Wang and Tomasz Stańczak will jointly take the helm of the non-profit that stewards Ethereum’s development, replacing the sole executive role previously held by Aya Miyaguchi. Related Reading: Solana Jumps 9% As Whales Quietly Accumulate Millions—Details On the other hand, Miyaguchi, who served as Executive Director for seven years, is transitioning to the newly created position of Foundation President. This interesting change in leadership comes as Ethereum’s price continues to undergo a decline towards the $2,000 mark. Co-Executive Directors Take Helm Of The Ethereum Foundation Ethereum’s new leaders bring a blend of deep protocol expertise and industry experience. Hsiao-Wei Wang, a seven-year veteran of the Ethereum Foundation’s research team, was a key contributor to core initiatives like the Ethereum 2.0 beacon chain and sharding research. She also earned respect as a community builder by organizing Ethereum developer events in Taiwan. Tomasz Stańczak, meanwhile, is best known as the founder of Nethermind, one of Ethereum’s major software clients, which he grew from a small project into a global blockchain infrastructure company. Stańczak’s expertise in engineering and talent development is expected to strengthen the Foundation’s technical teams, and he’s even in the process of stepping down as Nethermind’s CEO to focus on this new role. This leadership restructuring is a shift from Ethereum’s earlier setup, where decision-making often centered on a few figures like Miyaguchi and even Ethereum creator Vitalik Buterin. Buterin, who had hinted that changes were coming, took to social media platform X to publicly congratulate Wang and Stańczak on their appointments. In practical terms, the new directors are expected to double down on technical R&D (like scaling improvements and protocol upgrades) and nurture the developer community, all while keeping Ethereum’s ethos of a permissionless and censorship-resistant financial platform intact. Price Action More Bearish Than Bullish Ethereum’s market performance has been on a full decline in recent weeks, which is an extension of its underperformance in the current market cycle. After a strong start to the year when the ETH price surged to about $3,700 in early January, the momentum has been of a decline for the past two months. Notably, ETH’s lack of a bullish price momentum has been aggravated by Bitcoin’s price crash in the past week, which has flowed into the altcoin market. This fall in the price of Ethereum has been accompanied by a decline in on-chain activity and sentiment reaching a 12-month low. Related Reading: Bitcoin’s Risk Factor Remains High, Crypto Analyst Notes Transaction volumes in late February dropped about 15%, to roughly $12 billion per day, the lowest in two months, while the number of active Ethereum addresses fell by 10% over the same period. At the time of writing, Ethereum is trading at $2,210 and is at risk of breaking below $2,200 this week. Featured image from VOI, chart from TradingView
SOL, the native token of the Solana network, is one of the worst-performing cryptos in recent days. Once the darling of the meme coin crowd, the popular blockchain is facing its toughest test yet with its massive price drop and dip in network activity. SOL is currently trading at $173, but it’s down nearly 10% from last week’s price and 15% from two weeks ago. If we zoom out on its price history, the token is down 27.5% from last month’s price. Related Reading: XRP Bulls Return—Will This Be the Breakout to $3? Last Tuesday, Solana shed 10% in 24 hours, triggering concerns among holders and long-term investors. According to on-chain data, the token drop was partly driven by the embarrassing launch of LIBRA, which is currently under investigation. LIBRA’s dump after its launch caused panic among meme coin holders, with SOL as one of its most prominent victims. Network Activity Drops 55% With Low Volume Solana’s current woes go beyond the recent price action. According to data shared by crypto analyst Ali Martinez, the chain’s activities are slowing down. A Twitter/X post shared on February 17th noted that the number of active addresses on the network dropped to 8.4 million today from 18.5 million in November 2024. This data reflects a 55% drop, an alarming sign that developers are leaving the platform in droves. Also, the total volume transferred to the network dropped from $2 billion in November to just $26 million this week. This 99% drop reflects the project’s loss of momentum. The total volume transferred on the #Solana $SOL network has dropped from $2 billion in November to just $26 million today! pic.twitter.com/qgCOmjd2It — Ali (@ali_charts) February 17, 2025 More Challenges Up Ahead For SOL Crypto analysts are bracing for the worst for SOL in the next few weeks. Over the next three months, around 15 million SOL tokens valued at $7 billion will be unlocked. And putting the 4.715% inflation rate in the equation, the increased supply of SOL tokens in the market will create selling pressure. SOL is currently up, but its price is way below its peak. The token is down 27.5% from last month’s price and boasts a market capitalization of around $84 billion. Now, insiders and investors hope the spot SOL ETFs will be approved in the short term. Are SOL Meme Coins Next? The SOL price action benefitted from the surge of newly minted meme coins on the platform. However, the number of tokens minted on the platform has decreased considerably in the last few months. Solana was the platform of choice for degens and developers then, thanks primarily to its fast transactions and low cost. However, recent events affected the platform’s reputation, particularly the launch of SOL-based meme coins like MELANIA and LIBRA. Related Reading: Bitcoin Buying Pressure Wanes—Chart Reveals 60-Day Downtrend For example, LIBRA was launched with much fanfare, with Argentine President Javier Milei sharing a post and recommending the project. However, minutes after making his post public and pushing the new token past $5, it immediately crashed, leading many to say it was a classic “rug-pull.” MELANIA is also linked to LIBRA; some analysts say they share the same development team. Featured image from Shutterstock, chart from TradingView
Large holders of Ethereum, also called Ethereum whales, have been on an accumulation trend for a while now, with on-chain data revealing a fascinating increase in their collective holdings. Particularly, data from blockchain analytics firm IntoTheBlock shows that Ethereum whales now hold about 43% of the total circulating supply of ETH. The imbalance in ETH holdings raises important questions about its implications for Ethereum’s price and market dynamics moving forward. Whale Accumulation Surges By Over 90% Since Early 2023 According to IntoTheBlock, the total concentration of ETH in whale addresses is currently at 61.09 ETH, which represents about 43% of the total supply. This marks a significant shift from early 2023, when whales held just 22% of Ethereum’s circulating supply. IntoTheBlock classifies whale addresses as those holding more than 1% of the total circulating supply of ETH. Related Reading: Dogecoin Bulls Eye $3 As Whales Scoop 200 Million DOGE In The Last 2 Days The nearly twofold increase in Ethereum whale holdings within just a year is a noteworthy development. Naturally, such a concentration of a large supply of cryptocurrency into a few wallets would spell doom for the asset, as it would mean a few players would be able to manipulate price dynamics as they wish. However, Ethereum’s case deviates from this narrative due to the unique nature of its ecosystem and recent structural shifts within the network since 2022. The sharp rise in whale concentration can be attributed to two major factors: the Ethereum merge and the growing appeal of ETH staking to earn rewards. The Ethereum merge, which took place in 2022, transitioned the blockchain from a proof-of-work (PoW) system to a proof-of-stake (PoS) mechanism. As such, in-depth data from IntoTheBlock, which shows the 61.09 million ETH concentrated in only three whale addresses, makes much sense. What this means is that these ETH are mostly those locked in the proof-of-stake staking algorithm used by block validators on the Ethereum network. By locking up their Ethereum, ETH miners and large holders have not only reduced the circulating supply but also contribute to price appreciation by reducing the amount of Ethereum available for trading. Ethereum Holder Dynamics – Investors And Retailers The increase in ETH among whale addresses has meant less ETH is available for investors and retail owners. IntoTheBlock classifies investors as addresses holding between 0.1% and 1% of the total circulating supply, while retail are those with less than 0.1% of the total circulating supply. At the time of writing, there are 42 investor addresses and they collectively own 15.2 million ETH, which translates to 10.77% of the total circulating supply. Keeping in mind that the three whale addresses do not do much with price dynamics, investor addresses holding significant but more liquid portions of ETH have a greater capacity to affect market movements. Any substantial selloff from these investor addresses could trigger a sharp decline in Ethereum’s price. Related Reading: Bitcoin Reserve In The US: 65% Chance It Happens In 2025 On the other hand, retailers, which constitute over 99% of ETH addresses, are left with 46% of the total circulating supply. At the time of writing, Ethereum is trading at $3,225 and is down by 2% in the past 24 hours. Featured image from Pexels, chart from TradingView
Solana’s investor base is demonstrating unwavering confidence as the network sees a shift in the profile of its long-term holders. According to on-chain data from Glassnode, many more Solana addresses are moving into the long-term holder base, which showcases strong conviction from investors who entered the market during the recent 2024 rally. Related Reading: Expert […]
The Ethereum network has recently witnessed a resurgence in activity, with new wallet addresses hitting an eight-month high. On-chain data shows that an average of 130,200 new Ethereum addresses are being created daily in December, a level of network activity not seen since April. Related Reading: Crypto Meets Royalty: Bahrain Crown Prince Accepts 1st Crypto.com […]
Hardhat Chad clarified that he isn’t looking for funds from the foundation; his goal for Ore is to establish a currency, not develop testnet tools.
The devs argue that raising the gas limit to 40 million will cut Ethereum’s layer-1 transaction fees by around 15 to 33%.
The Fantom Foundation expects the changes will beef up Fantom’s security without slowing down the network.
Bitcoin network hash rate has reached a new all-time high of over 540 exahashes per second. However, hash price and profitability are sinking again.