The world’s second-largest cryptocurrency Ethereum (ETH) has also been under strong selling pressure moving to $1,200 amid the market shakeout caused by the FTX collapse. As of press time, ETH is trading 4.3% up at a price of $1,282 and a market cap of $156.9 billion.
The on0-chain indicators hint at new interesting developments. Over the last year, the Ethereum shark and whale addresses have been shedding much of their supply. But since the FTX collapse last month, there’s an interesting trend reversal observed.
Since the implosion of the FTX exchange, all the Ethereum addresses holding between 100 to 1m coins have accumulated 1.36% of the overall ETH supply. This jump in the total large addresses of Ethereum hints at a bullish momentum going ahead.
Courtesy: Santiment
Ethereum (ETH) Social Volume, Dominance, and Exchange Supply
Since the Merge event in mid-September 2022, the discussion around Ethereum has been on a decline. Since late October 2022, the discussions around Ethereu
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