Ethereum Prices Surge as Whales Increase Activity: Santiment

6. Januar 2023

• Ethereum has seen an upwards push of 4% in the last couple of days as whales have displayed elevated levels of activity.
• Whale transactions involving the movement of a significant number of coins have caused visible effects on the price of Ethereum.
• On-chain analytics firm Santiment data shows the Ethereum whale transaction count has observed a surge in the past day.

The past couple of days have seen Ethereum surge upwards by 4%, and this can be attributed to the heightened activity of whales. Whale transactions, or transactions involving the movement of a significant number of coins, have caused visible effects on the price of Ethereum. This has been observed in the past, with a sharp downward move and local bottom of around $1,160 occurring on December 16th, 2020 when whale transactions reached a peak.

On-chain analytics firm Santiment has been tracking the Ethereum whale transaction count, and the data shows that it has been relatively high in recent days. This metric measures the total number of Ethereum transfers taking place on the chain that is worth more than $100,000, and it has reached its highest level since December 16th with 611 transactions taking place in just the last day.

High values of the whale transaction count suggests that whales are making a large number of transactions, which can lead to high levels of volatility. Low values suggest that whales are not that active at the moment, which can lead to the price not observing any significant action.

It is interesting to note that the recent spike in whale transactions has coincided with Ethereum’s price surge. This could be indicative of the influence whales have on the price of the crypto, and it is something to keep an eye on in the near future.