Ethereum is slowly moving below $1,300 against the US Dollar. ETH runs the risk of a significant loss if it stays below $1,400 for an extended period of time. But can whales save it as the largest altcoin continues to appear red?
Here is the AMBCrypto price prediction for Ethereum [ETH] For 2022-23
At the time of writing, Ethereum was trading at the $1,300 mark on CoinMarketCap after seeing some relief. This comes at a very desperate time for struggling ETH holders. But things could change as ETH billionaires’ volumes hit new highs since 9/11.
Santiment, the popular analytics platform, shed some light on the same. According to the data, pSince September 11, Ethereum Billionaire titles with a million or more ETH Collectively he added an additional 3.5 million coins.
In this, Ethereum billionaire addresses accumulated and at the time of publication recorded 28.55 million ETH. This addition represents a 14% increase in ETH holdings by billionaire voters in the post-merger period. feelings Added ,
This increased their cumulative portfolio by +14%. There are currently 132 such titles.”
It would be worth about $36 billion at the time of writing. But here’s the surprising part, according to the range of addresses containing from 100 to 1 million ETH, whales Projection Most of those accumulated in August and early September.
This could be one of the reasons why the price of ETH remains stagnant or somewhat flat.
But could it be different this time?
Well, ETH holders have shown strength. Keep in mind that the number of addresses submitted to exchanges (7d MA) has just hit a two-year low of 500,732.
This showed absolute bullishness to stockholders despite the overall bearish tone of the entire crypto market. This HODLing made sense as 50% of the shareholders remained in profit while the other half experienced losses or were at break-even.
Ethereum has been in demand over the years regardless of severe price corrections. Recently, the asset management firm offered $4.5 trillion in ETH storage and trading to clients. Fidelity Digital Assets, the crypto suite of Fidelity Investments, offered custody and trading services to its institutional clients later this month.
According to an email to Fidelity customers subscriber On Twitter, the crypto arm will offer “new institutional opportunities for Ethereum” to institutional investors starting October 28, 2022.