some of the largest Ethereum wallets are hoarding coins, marking the beginning of a new accumulation phase. These stakeholders will try to avoid selling eth before pledging assets to eth 2.0.
Source: pixabayLooking for rising signs from the accumulation of eth %At the time of publication, Ethereum set its price at $232.07 to avoid falling below $200 again. Now, there are more movement signals as large eth wallets show signs of accumulation. According to santiment's analysis, the accumulation of eth can be an indirect indicator of price turning.
Although the previous two weeks have been on the same website, the top 100 holders of eth are the first to accumulate a higher percentage of total tokens. When this kind of accumulation is the first, it shows that those who have the largest share in eth (and other various tokens) are the first to have a collective emotion that is underestimated, and they think that this is a good forever present. It may not be necessary for these price increases to take some time after these accumulation and supplement, but for the ETH heads, the light is a good omen. Santiment commented that the cumulative effect would not immediately translate into a bullish price trend. However, this trend shows that Ethereum stakeholders believe that holding eth is more important. The
eth is not only a basic business to money and a speculative asset. Ethereum network still plays a major role in the process of centralized finance (defi), and DAPP play program or other entities still need eth to pay gas fees.The business volume of eth also remained at a relatively high level, exceeding US $17 billion in the early 24 years. In the past few weeks, ETH's business volume has slightly increased, and the mining movement has also increased. Despite the recent drop of $280, ETH seems to have been set up as one of the driving forces for the growth of Tianmi money market.
High fluctuation of Ethereum in the process of usdt inflow
eth is also expected to carry more tether (usdt) now. A large number of tether (usdt) have switched from Tron to Ethereum, with a recent turnover of more than $200 million.The
eth is better than the gas cost associated with the tether intelligence compliance contract and the direct fluctuating inflow of usdt. More than $2 billion a day flows from usdt operating pairs to eth. Eth has a relatively quiet market cap and now accounts for about 10% of the total market value of timmi currencies.However, in the short term, the market trend is still unknown. Eth is still expected to fall around lower prices. Eth prices are also associated with the exodus of bitcoin (BTC) and group market sentiment. The accumulation of eth's largest wallet also suggests that plutoken and other whales were able to negotiate sales and put downward pressure on prices. Now, bitfinex has the largest eth wallet, followed by DFI and wth. The top 10 eth wallets also include the plustoken wallet, which has nearly 800000 eth. The ethdev wallet, which holds more than 593000 eth, has yet to be exercised. Ethereum's shift to POS is also the driving force for holding coins.