{"id":567226,"date":"2021-06-08T13:19:25","date_gmt":"2021-06-08T10:19:25","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=567226"},"modified":"2021-06-08T13:19:25","modified_gmt":"2021-06-08T10:19:25","slug":"ethereum-whales-are-still-hodling-eth-accumulated-since-oct-2020","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-whales-are-still-hodling-eth-accumulated-since-oct-2020\/","title":{"rendered":"Ethereum Whales are Still Hodling ETH Accumulated Since Oct. 2020"},"content":{"rendered":"<ul>\n<li><strong>Ethereum whales holding 1k to 10k ETH are still holding their coins<\/strong><\/li>\n<li><strong>The Ethereum whales started accumulating ETH in October 2020<\/strong><\/li>\n<li><strong>Ethereum&#8217;s daily address activity is on the decline which is bearish<\/strong><\/li>\n<li><strong>Trader sentiment towards Ethereum continues to be negative and could lead to a capitulation event<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-whales-confident-of-eths-price-move-funds-from-exchanges\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Ethereum whales<\/a> holding 1,000 to 10,000 ETH are still holding onto their coins despite the ongoing stagnation of the digital asset below the $2,800 resistance level. This is according to <a href=\"https:\/\/insights.santiment.net\/read\/bitcoin%2C-ethereum%2C-and-a-quick-take-on-the-health-of-crypto-markets-6436\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">a report<\/a> shared by the team at Santiment which also pointed out that the same whales have been accumulating their bags of ETH since last October, and are not &#8216;budging much during this ranging period in the mid $2,000 price level.&#8217;<\/p>\n<p>The commitment of Ethereum whales to keep holding has been visualized in the following chart from the report.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th.png\"><img class=\"aligncenter size-large wp-image-567227\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-1024x567.png\" alt=\"\" width=\"1024\" height=\"567\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-1024x567.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-300x166.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-770x426.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-1536x851.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-2048x1134.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-500x277.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-240x133.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-717x397.png 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/ETH-whales-June-8th-1347x746.png 1347w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Ethereum Address Activity on the Decline<\/h2>\n<p>The team at Santiment went on to point out that the address activity on the Ethereum network has been on a decline since posting an all-time high in mid-May. They added that such a drop in address activity is a bearish sign for Ethereum in the crypto markets since <a href=\"https:\/\/en.ethereumworldnews.com\/decreasing-ethereum-network-activity-foreshadowed-eths-pullback\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">it affects demand for ETH<\/a>.<\/p>\n<h2>Ethereum Sentiment Being Negative Could Cause a Capitulation Event<\/h2>\n<p>The bearish cloud hanging over Ethereum is best exemplified by trader sentiment that continues to <a href=\"https:\/\/en.ethereumworldnews.com\/negative-crowd-sentiment-towards-ethereum-may-push-its-price-higher\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">lie in negative territory<\/a>. According to the Santiment report, Ethereum&#8217;s sentiment staying in negative territory is also a bearish sign as explained below.<\/p>\n<blockquote><p>Ethereum&#8217;s negative social sentiment is dipping down to levels that haven&#8217;t been seen since October, 2020. This crowd doubt is extremely indicative of a capitulation event if it lasts for too much longer.<\/p><\/blockquote>\n<h2>Ethereum Holders Waiting on Bitcoin to Make a Move<\/h2>\n<p>With respect to price action, the report concluded that Ethereum traders and investors are staying put as they watch <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-dreaded-death-cross-on-the-daily-chart-beckons\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Bitcoin&#8217;s next major move<\/a> in the crypto markets. The same investors continue withdrawing their Ethereum out of centralized crypto exchanges and into DeFi or personal wallets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum whales holding 1k to 10k ETH are still holding their coins The Ethereum whales started accumulating ETH in October 2020 Ethereum&#8217;s daily address activity is on the decline which is bearish Trader sentiment towards Ethereum continues to be negative and could lead to a capitulation event Ethereum whales holding 1,000 to 10,000 ETH are still holding onto their coins despite the ongoing stagnation of the digital asset below the $2,800 resistance level. This is according to a report shared [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":565036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823],"tags":[1322,108122,213,108194,108292],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567226"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=567226"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/565036"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=567226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=567226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=567226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}