As an experienced crypto investor, I’ve seen my fair share of market movements and transfer patterns. The recent Ethereum news is particularly intriguing to me.
New information reveals that one of Ethereum’s (ETH) initial investors has moved large quantities of ETH, valued in millions of dollars, to a cryptocurrency exchange.
Despite its modest size, this development might add to the favorable Ethereum network traffic trend that has been emerging in recent times.
Early Ethereum holder sells most of their holdings
Based on information from Spot on Chain, approximately 4,153 Ethereum tokens moved to Coinbase around May 13th at the start.
As a seasoned crypto investor, I found myself drawn to a noteworthy Ethereum transfer worth over $12 million at present ETH prices. What piqued my interest was the discovery that this transaction originated from an early Ethereum holder’s wallet.
After a closer look, it was found that this digital wallet transferred over 9,000 Ethereum, equivalent to around $21 million, to various exchanges since the year 2021.
At present, the Ethereum wallet holds approximately 2,566 ETH, equivalent to more than $7 million in value. This latest transaction is among the reasons for the noticeable surge in positive net activity detected in Ethereum transactions.
Ethereum inflow increases
As a researcher studying Ethereum network trends, I’ve noticed an intriguing development in the netflow chart analysis: there has been a significant uptick in positive transactions over the past three days. This increase is noteworthy, and it seems that we may be on the verge of observing the highest number of positive flows in recent history.
Over the past two days, the Netflow hovered between approximately 4,600 and 3,000. However, I’m now observing that it has significantly increased, reaching over 18,000.
This surge suggested a significant increase in exchange inflow over the past 24 hours.
As a thorough analyst, I’ve delved deeper into the ETH inflow data and discovered approximately 83,000 Ether have been transferred to exchanges as of now.
Based on the 94,000 new entries registered yesterday and the continuous flow, it’s reasonable to expect more activity by the end of the day.
ETH price and volume see an uptrend
Analysis of the Ethereum volume indicated a pickup at press time.
Read Ethereum’s [ETH] Price Prediction 2024-25
Following a decrease in trading volume during the last session, which fell below the $10 billion mark, the current trading volume stands at around $10.1 billion.
Furthermore, the Ethereum price is nearing the $3,000 mark. According to an analysis of the daily chart, Ethereum experienced a rise of more than 1.7%, and its current trading value hovers around $2,980.
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2024-05-13 17:11