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<p class="is-style-lead">Ethereum has been consolidating above the $1,800 mark over the past week while the asset witnessed a significant drop in whale activity.</p> 
<p>According to data provided by a market intelligence platform Santiment, Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) whales’ activity has been constantly on a downward momentum. Ethereum whales completed 3,976 transactions, each worth at least $100,000, on Aug. 1.</p> 
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 <img decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/08/Ethereum-ETH-15.38.29-07-Aug-2023-1024x347.png" alt="Ethereum holds above $1.8k, whale activity drops - 1" class="wp-image-14183626"> 
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   ETH price, supply, and whale activity – Aug. 7 | Source: <a href="https://app.santiment.net/charts/qLSfvAZb__sCl" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> 
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<p>At the time of writing, Santiment recorded only 744 such transactions in the past 24 hours. Quite similarly, whale transactions consisting of at least $1 million worth of ETH have also dropped from 672 on the first day of the month to 95 at the time of writing.</p> 
<p> You might also like: <a href="https://crypto.news/valkyrie-moves-to-convert-btf-into-dual-bitcoin-ethereum-etf/" rel="noopener noreferrer nofollow"> Valkyrie moves to convert BTF into dual Bitcoin, Ethereum ETF </a> </p> 
<p>On the other hand, an ETH whale, nd4.eth, sent 2,500 coins to a dead wallet after his “girlfriend” allegedly “cheated on him.” The burned tokens are currently worth over $4.5 billion. On-chain data <a href="https://etherscan.io/address/0xEfbBc3fa829aF506Bc7AfE1a0C31B3c7419456F7" target="_blank" rel="noopener noreferrer nofollow">shows</a> that nd4.eth still holds 32 different crypto assets and a CryptoPunk NFT — all worth around $196,000.</p> 
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   <p lang="en" dir="ltr">BREAKING – Ethereum Whale Sends 2500ETH To Burn Address After Finding Out His GF Cheated On Him <a href="https://t.co/d2QJMRv0nv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/d2QJMRv0nv</a></p>— Au TistJeera (@autistjeera) <a href="https://twitter.com/autistjeera/status/1688429818243883008?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 7, 2023</a> 
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<p>Moreover, Santiment data shows that the amount of <a href="https://crypto.news/eus-mica-rules-could-prohibit-mev-activities-on-ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> supply outside exchanges has been constantly hitting new all-time highs since March. Per the data, 35.9 million coins are sitting in non-exchange addresses, showing signs of long-term accumulation.</p> 
<p>Ethereum has been consolidating between $1,825 and $1,870 over the past week. The asset is up by 0.2% in the past 24 hours and trading at around $1,830 at the time of writing. The upward momentum comes as ETH’s 24-hour trading volume surges by 25%, currently sitting at over $3.5 billion.</p> 
<p> Read more: <a href="https://crypto.news/learn/ethereums-account-abstraction-explained/" rel="noopener noreferrer nofollow"> Ethereum’s account abstraction explained </a> </p>

Ethereum holds above $1.8k, whale activity drops

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