Ethereum remains in the spotlight, and recent movements of large wallets raise questions about potential market scenarios. Let’s break down the key signals from on-chain analytics.
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Over the past 24 hours, several large wallets have shown increased activity. One of them withdrew 4,200 ETH from an exchange, which could indicate long-term holding or preparation for staking.
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Interestingly, a new “virtual whale” has been spotted, accumulating over 25,000 ETH from multiple sources. This could signal preparation for large trades or OTC transactions.
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Transaction volume on the network has increased by 17%, coinciding with a rise in activity on DEX platforms. This may suggest growing interest in altcoins while ETH remains stable.
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The average gas fee has risen by 12%, likely due to mass ETH transfers. If this trend continues, it could impact the profitability of DeFi protocols and NFT transactions.
What do you think? Are these movements a bullish signal, or is this profit-taking ahead of a correction?