Ethereum has faced significant volatility recently, with mixed signals from whale addresses and new entrants.
Ethereum sees mixed signals as whale accumulation slows. Still, network growth hits a four-month high, signaling increased activity and adoption.has experienced significant volatility over the past few months, with on-chain metrics presenting mixed signals. Data indicates that some Ethereum whales have paused their accumulation, suggesting a potential shift in sentiment among large holders.
However, more significant movements were observed among larger addresses. For addresses holding 1,000-10,000 ETH, accumulation halted towards the end of August. Data shows that these addresses stopped accumulating around July, and similar to the 1,000 ETH addresses, they have also been redistributing or selling off their holdings since then.The recent decline in accumulation from whale addresses could be interpreted as a negative indicator for Ethereum, signaling caution among large holders. However, the network’s positive growth in new addresses provides a more optimistic outlook.
The recent spike in network growth, marked by a surge in new addresses, highlights growing interest in Ethereum, even amid market volatility.
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