Ethereum hits six-month high as sharks, whales play dump and catch
Since the unfortunate events of 20222, Ethereum (ETH) has been fighting against the odds to recover and return to its previous price position.
However, during the past year, there has been a shift in the positions of large addresses toward their ETH holdings.Read Ethereum (ETH) Price Prediction 2022-23 Traders known as “whales” and “sharks” on Ethereum have seen a dramatic change in their portfolios over the past year, as reported by a recent post by Santiment.
By comparing the two groups’ charts, we can see that the proportion of whale holdings has decreased while that of sharks has increased.
While whales have sold off 9.43 million ETH, sharks have added 3.61 million to their stash over the past year.Source: Santiment There has been a lot of selling pressure on Ethereum, and the activity of the whales over the past year and the amount dumped thus far are symptomatic of this.
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