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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 (ETH) <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s’ <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> has been constantly on a downward momentum. Ethereum <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s completed 3,976 transactions, each worth at least $100,000, on Aug. 1.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="347" src="https://cdn.thebittimes.com/images/2023/08/07/aa1779a8c8a7f3265a644248a393f67b.webp" 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: Santiment 
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 <p>At the time of writing, Santiment recorded only 744 such transactions in the past 24 hours. Quite similarly, <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> 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> 
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 <p>On the other hand, an ETH <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>, 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 shows that nd4.eth still <a rel="noopener noreferrer nofollow" title="holds" href="https://thebittimes.com/tag/holds.html">holds</a> 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 pic.twitter.com/d2QJMRv0nv</p>— Au TistJeera (@autistjeera) August 7, 2023 
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 <p>Moreover, Santiment data shows that the amount of Ethereum 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> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Ethereum’s account abstraction explained 
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Ethereum holds above $1.8k, whale activity drops

TheBitTimes

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