Ethereum Whale Suddenly Awakens, Stakes $7.4M After 2-Year Slumber
Portfolio Pulse from Mehab Qureshi
An Ethereum whale, who had been dormant for over 2 years, has suddenly staked 4,032 ETH worth $7.4 million. The number of Ethereum addresses holding 1,000 or more coins has hit a 6-month low of 6,435.
May 18, 2023 | 11:25 am
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A dormant Ethereum whale has staked 4,032 ETH worth $7.4 million, while the number of addresses holding 1,000 or more coins hits a 6-month low.
The sudden staking of a large amount of ETH by a dormant whale could indicate renewed interest in the cryptocurrency. However, the number of addresses holding 1,000 or more coins hitting a 6-month low suggests that larger holders are not re-accumulating at current prices. This mixed signal makes it difficult to predict the short-term price direction for ETHUSD.
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