![Ethereum [ETH]: Whales swim away as selling pressure rises](https://i.headtopics.com/images/2023/2/22/cryptoamb/ethereum-eth-whales-swim-away-as-selling-pressure--ethereum-eth-whales-swim-away-as-selling-pressure--1628448285059870720.webp)
Ethereum whales move away from ETH as MVRV ratio increased. Validators and retail investors continued to support Ethereum. According to a 22 February tweet by Glassnode, large addresses have started selling their Ethereum [ETH]. New data suggested that addresses holding over 1000 ETH reached a one-month low. 📉 #Ethereum $ETH Number of Addresses Holding 1k+ […]
. A negative net issuance indicates that the total supply of the cryptocurrency has decreased over a time period. A negative net issuance may lead to a scarcity of coins and potentially increase the value of the cryptocurrency in the future.
Along with the retail investors, the number of validators on the Ethereum network increased as well. According to Staking Rewards, the number of validators on the Ethereum network grew by 3.89% in the last 30 days. The high number of validators on the network would be due to the revenue being generated by them.Over the last month, the revenue generated by Ethereum validators increased by 38.08%, which translated to $1.91 billion worth of revenue at press time.
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