Connect with us

Ethereum News

Ethereum News: Ethereum sees some whale and retail demand, but here’s the issue



  • ETH sees demand from whales and retail investors but in low volumes.
  • ETH TVL in Ethereum 2.0 soars to new ATH.

The Ethereum network’s next major upgrade dubbed Shanghai is less than a month away. Major network upgrades usually attract some investor interest days before the actual date of the event. Now, the question is- Will the same scenario play out for ETH?

Is your portfolio green? Check out the Ethereum Profit Calculator

Recent data reveals that ETH is experiencing noteworthy demand, especially from retail investors. There are currently over 23.3 million addresses holding at least 0.01 ETH and those addresses are currently at an 8-month high.

This confirms that retail buyers have been accumulating, perhaps in anticipation of some upside as the Shanghai countdown narrows.


But how does this match up to the level of demand from the whales or institutional buyers? A quick glance at the state of addresses holding over 1,000 and over 10,000 ETH reveals that they have been adding to their balances in the last seven days. This confirms that larger addresses or whales have also been accumulating the king alt.

ETH whale addresses

Source: Glassnode

Things also look favorable for Ethereum on the DeFi front. The network’s TVL data revealed that the total value locked in ETH 2.0 deposit contracts has been growing. It recently reached a new all-time high (ATH) of 17.06 million ETH. It confirms that Ethereum 2.0 is still on a healthy growth trajectory.


So, if the whales and retail segment are buying, why is ETH’s price not experiencing a massive rally?

Exchange flows may provide a reasonable answer. The volume of ETH flowing in and out of exchanges is down notably in the last seven days. It implies that the prevailing volumes are weaker, hence a lower impact on price action.

ETH exchange flow volumes

Source: Glassnode


However, the latest Glassnode readings revealed that the ETH exchange outflow volume was almost double the exchange inflow volume.

These flows were responsible for curtailing ETH’s downside on Saturday (25 March) and a 3.6% uptick within the last 24 hours to its $1778 press time price.

Source: TradingView

How many are 1,10,100 ETHs worth today?

Although ETH is currently demonstrating some bullish signs, investors should note that the volumes are still low. The cryptocurrency has been stuck in a saturated performance for the last few days. Capitulation is still a likely outcome that may lead to a resurgence of sell pressure in the next few days.


Investors should watch for whether ETH demand will continue increasing in the next few days. This would give insights into what to expect.

Source link


Gabriella is a personal finance writer whose previous coverage has appeared in Money Magazine, MSN Money and the Journal Gazette & Times-Courier. She began her career at the Hyde Park Herald, where she wrote about K-12 education, politics and small businesses in the South Side of Chicago and won a McCormick Foundation Diversity Writers scholarship. During her freetime, she likes to enjoy a good book or skateboard with her dog.


ADA altcoin Assessing Binance Bitcoin Bitcoin news Bitcoins BTC BTCs bull Bullish Bulls cardano Crypto Cryptocurrency Crypto News Data DOGE DogeCoin ETH Ethereum Ethereum news Ethereums ETH News Heres High holders investors Level Market Million miners Mining News NFT Prediction Price rally Ripple Shanghai Support traders upgrade whales XRP

© 2022-2022 CRYPTO Q.E.D. ALL RIGHTS RESERVED. Crypto News Disclaimer: The content of is for informational purposes only and should not be construed as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and each reader is advised to do their own research before making any decisions. It brings you the latest news and analysis on the future of money by covering Blockchain and Bitcoin.