Ethereum

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<img width="1200" height="900" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06180943/eth-wale.webp" class="attachment-full size-full wp-post-image" alt="What Ethereum's future holds as whales make a splash" loading="lazy" style="float:left; margin:0 15px 15px 0;" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06180943/eth-wale.webp 1200w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06180943/eth-wale-300x225.webp 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06180943/eth-wale-1024x768.webp 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06180943/eth-wale-768x576.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
<ul> 
 <li>Ethereum whales held around 38% of the total supply at press time.</li> 
 <li>ETH’s supply has continued to decline.</li> 
</ul> 
Throughout the year, <a href="https://eng.ambcrypto.com/search/ethereum" target="_blank" rel="noopener" data-wpel-link="internal">Ethereum [ETH]</a> whales have consistently made strategic moves, and recent reports indicated a noteworthy increase in their holdings. 
<h4>Ethereum whales gather more supply</h4> 
According to <a href="https://twitter.com/intotheblock/status/1732035057773326385?t=Dm94-osEWiYyA8SZLZdVVg&amp;s=19" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">IntoTheBlock</a>, the percentage of <a href="https://eng.ambcrypto.com/ethereum-whale-makes-a-surprise-move-sparks-inflows/" target="_blank" rel="noopener" data-wpel-link="internal">Ethereum</a> supply held by large investors, known as whales, has increased over the year. The data showed a growth from 32% in January to around 35%. 
Further examination of whale holdings on Santiment also showed an increase.&nbsp; 
<div id="attachment_81235" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023.png" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer"><img aria-describedby="caption-attachment-81235" loading="lazy" class="size-full wp-image-81235" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023.png" alt="Ethereum whale holdings" width="2560" height="867" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023.png 2560w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023-300x102.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023-1024x347.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023-768x260.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023-1536x520.png 1536w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174150/Ethereum-ETH-13.11.21-06-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div> 
Initial observations of the chart showed a clear upward trend in the past few months. In August, the percentage of whale holdings stood at about 34%, but as of this writing, it was over 38%. 
An important question thus arises: How has this surge in holdings affected the overall supply of Ethereum on exchanges? 
<h4>Ethereum: Supply on Exchanges continues to decline</h4> 
The <a href="https://eng.ambcrypto.com/ethereum-spot-etf-race-heats-up-this-cohort-takes-an-interest/" target="_blank" rel="noopener" data-wpel-link="internal">Ethereum</a> supply on exchanges has exhibited minimal fluctuation in the recent period. However, it has shown a significant decrease over the last six months. 
Chart analysis showed a decline of nearly 1 million units between August and the present. As of this writing, the exchange supply was around 10.51 million.&nbsp; 
<div id="attachment_81236" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023.png" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer"><img aria-describedby="caption-attachment-81236" loading="lazy" class="size-full wp-image-81236" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023.png" alt="Ethereum supply on exchanges" width="2560" height="867" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023.png 2560w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023-300x102.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023-1024x347.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023-768x260.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023-1536x520.png 1536w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174313/Ethereum-ETH-13.11.31-06-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div> 
Connecting the dots between the trends in exchange supply and the holdings of Ethereum whales, one might infer that the accumulation by large investors has influenced the overall supply. 
The reduction in supply on exchanges implied a decrease in liquidity, which could exert a positive influence on the price trend. 
<h4>ETH uptrend comes to a halt</h4> 
AMBCrypto’s examination of <a href="https://eng.ambcrypto.com/ethereum-decouples-from-bitcoin-examining-the-causes/" target="_blank" rel="noopener" data-wpel-link="internal">Ethereum’s</a> daily price trend showed a consistent accumulation by whales across various price ranges. Preceding this recent report, the chart indicated a continuous increase in the value of ETH over the past six days. 
Read <a href="https://ambcrypto.com/predictions/ethereum-price-prediction" target="_blank" rel="noopener" data-wpel-link="internal">Ethereum’s [ETH] Price Prediction</a> 2023-24 
The uptrends resulted in around an 11% increase in value. However, at the time of this writing, there was a slight decline of almost 2%. Despite the decline, it has managed to maintain a stable price of around $2,200. 
<div id="attachment_81237" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55.png" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer"><img aria-describedby="caption-attachment-81237" loading="lazy" class="size-full wp-image-81237" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55.png" alt="ETH/USD price trend" width="1793" height="752" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55.png 1793w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55-300x126.png 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55-1024x429.png 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55-768x322.png 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/06174434/ETHUSD_2023-12-06_12-52-55-1536x644.png 1536w" sizes="(max-width: 1793px) 100vw, 1793px"></a>
 Source: TradingView
</div> 
It’s noteworthy that if the percentage of supply held by these whales begins to diminish, it could signify capitulation. This is a crucial consideration, as a substantial release of volume onto exchanges might adversely impact the price trend. 
The post <a rel="nofollow" href="https://eng.ambcrypto.com/what-ethereums-future-holds-as-whales-make-a-splash/" data-wpel-link="internal" target="_self">What Ethereum’s future holds as whales make a splash</a> appeared first on <a rel="nofollow" href="https://eng.ambcrypto.com" data-wpel-link="internal" target="_self">AMBCrypto</a>.

What Ethereum’s future holds as whales make a splash

AMBCrypto

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