Ethereum

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Ethereum has seen significant gains since Sept. 12, when its price dropped to $1,530. However, the asset shows signs of a decline as active addresses and deposits incline. 
According to data provided by the market intelligence platform Santiment, the number of active <a href="https://crypto.news/price/ethereum/">ETH</a> deposits into exchanges rose by around 39.5% over the past three days — from 12,800 on Sept. 17 to 17,734 transactions in a 24-hour time frame at the time of writing.&nbsp; 
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 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/09/Ethereum-ETH-14.18.49-20-Sep-2023.png" alt="Ethereum goes red as active addresses, deposits spike - 4" class="wp-image-14196538">
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 ETH price, exchange activity, whale activity, and active addresses – Sept. 20 | Source: <a href="https://app.santiment.net/charts/pbHEkTMK__sCl" target="_blank" rel="noopener">Santiment</a>
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In addition, the number of daily active addresses registered an 11% hike in the same time frame — rising from around 357,200 to 396,150 wallets over the past three days. However, the amount of ETH inflow to exchanges has dropped significantly.&nbsp; 
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Per Santiment, 13,437 ETH entered the exchanges in the past 24 hours. This is 46.6% down from the 25,166 tokens that flowed into the platforms on Sept. 19. 
This pattern might suggest a short squeeze for the <a href="https://crypto.news/ethereum-unveils-new-testnet-called-holesky/">Ethereum</a> price since data shows that smaller investors rather than whales could drive most of the exchange inflow.&nbsp; 
Moreover, according to Santiment data, the number of whale transactions consisting of at least $100,000 worth of ETH declined from 2,892 to 2,538 transactions over the past day.&nbsp; 
<h1 class="wp-block-heading" id="wallet-shorting-ethereum">Wallet shorting Ethereum</h1> 
Data provided by Perps Watcher <a href="https://watcher.synthetix.io/0x586db03b0bb5b8dfd7378efeac19339706eabe64" target="_blank" rel="noopener">shows</a> the address of the former CFO of Frog Nation, known as sifu.eth, has been consistently rising stake in ETH short positions since Sept. 12. The wallet has shorted 12,132.31 ETH — currently worth roughly $19.8 million — with a 4.08x leverage in total so far. 
Despite the Ethereum price incline over the past eight days, sifu.eth is still down by around $80,000 in unrealized PNL (profit and loss).&nbsp; 
<a href="https://crypto.news/ethereum-devs-to-reboot-holesky-testnet-after-botched-launch/">Ethereum</a> is down by 1.25% in the past 24 hours and trading at $1,630 at the time of writing. The asset’s market cap is $195 billion with a 24-hour trading volume of $4.5 billion — down by $17%.&nbsp; 
 Read more: <a href="https://crypto.news/sbfs-father-was-unhappy-with-200k-salary-at-ftx/"> SBF’s father was unhappy with $200k salary at FTX </a>

Ethereum goes red as active addresses, deposits spike

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