Ethereum

13 Mega Whales Holding Over 10,000 Ethereum Join The Network In 24 Hours – Major Accumulation Signal?

Published

1 month ago

January 29, 2025

Coin2049 Newsletter

Ethereum (ETH) has had a turbulent week, with the price dipping to tag the critical $3,000 support level before recovering to current levels around $3,200. This sharp drop sparked fear among investors, as doubts about Ethereum’s performance for this cycle intensified. Many began questioning whether ETH could regain its momentum amid the broader market’s volatility.

However, key on-chain metrics suggest that not all investors share this skepticism. Data reveals that major players are still accumulating ETH despite recent price action. In the past 24 hours alone, 13 new mega whales—wallets holding over 10,000 ETH each—have joined the network. This signals strong confidence among high-net-worth investors and institutional players, who appear to see the current price levels as an opportunity.

This significant accumulation activity suggests that big players are positioning themselves for a potential breakout. While smaller retail investors may be hesitant, the moves of these whales could indicate optimism for Ethereum’s long-term prospects. As ETH stabilizes around the $3,200 level, the market will be closely watching whether this accumulation trend leads to renewed bullish momentum and a stronger recovery in the weeks ahead. The coming days could be pivotal for Ethereum’s trajectory in this market cycle.

Ethereum Enters A Recovery Phase

Ethereum has faced significant selling pressure since late December, shedding over 25% in value during this period. The prolonged downturn has tested investor confidence, yet recent price action suggests that the bearish phase may be nearing its conclusion. Analysts are now optimistic about a reversal and potential recovery, with Ethereum showing signs of regaining its footing.

Top crypto analyst Ali Martinez has highlighted compelling data supporting this bullish outlook. According to his analysis shared on X, 13 mega whales—wallets holding over 10,000 ETH each—have joined the Ethereum network in the last 24 hours.

13 mega whales (each holding over 10,000 ETH) joined the network | Source: Ali Martinez on X

This surge in large-scale accumulation suggests that big players are taking advantage of current price levels, positioning themselves for an anticipated recovery. Significant whale activity often serves as a strong indicator of confidence among institutional and high-net-worth investors, who typically operate with a long-term perspective.

At its current levels, Ethereum appears to be building a strong base of support. This accumulation by mega whales aligns with the broader market sentiment that ETH is poised for a bullish phase once the selling pressure subsides. If ETH can hold its ground and reclaim key resistance levels, the next upward move could mark the beginning of a strong recovery and sustained bullish momentum in the months ahead.

ETH Testing Crucial Liquidity

Ethereum is trading at $3,190 after finding strong support at the $3,000 mark, which aligns with the 200-day moving average. This key level has acted as a critical long-term indicator of strength, and ETH’s ability to hold above it suggests the potential for a trend reversal. After weeks of downward pressure, the current price action indicates that ETH might finally be ready to shift from its bearish trajectory.

ETH testing crucial demand | Source: ETHUSDT chart on TradingView

For a complete confirmation of a bullish reversal, Ethereum must break above and hold the $3,500 level, a significant resistance zone that has capped its upward movement in recent weeks. Reclaiming this level would likely restore investor confidence and signal the start of a new uptrend. However, market conditions remain volatile, driven by speculation and broader macroeconomic uncertainties, which may delay ETH’s breakout.

Despite the challenges, Ethereum’s recovery above the 200-day moving average is a positive sign for the long-term outlook. Investors are cautiously optimistic as ETH stabilizes at current levels. Patience may be required, but the recent price action suggests ETH is setting the stage for a potential rally once it overcomes key resistance and the broader market finds direction.

Featured image from Dall-E, chart from TradingView

Source link

Related Topics:Accumulation Ethereum Holding Hours join Major Mega Network Signal Whales

Up Next

ETH Faces ‘Moment Of Truth’ After Crash Toward $3,000

Don't Miss

Ethereum Reserves Hit Multi-Year Lows—Are We On The Verge Of A Bull Run?

Click to comment

Ethereum

HODLer Airdrops and Rewards Explained

Published

2 hours ago

March 1, 2025

Coin2049 Newsletter

Binance has announced the listing of MyShell (SHELL) as the 10th project on the HODLer Airdrops page, rewarding users who participated in BNB Simple Earn and On-Chain Yields subscriptions.

MyShell is a decentralized AI consumer layer, designed to connect AI creators, researchers, and users within an open-source ecosystem.

Eligible users who held BNB between February 14, 2025, and February 18, 2025, have received SHELL tokens through the HODLer Airdrops program.

Additionally, Binance listed SHELL for trading on February 27, 2025, at 13:00 UTC, opening pairs against BTC, USDT, USDC, BNB, FDUSD, and TRY.

Why Trade SHELL on Binance?

Binance remains the leading exchange for new token listings, offering a highly liquid and secure trading environment.

A detailed Binance review covers the platform’s security, fees, and trading options, helping traders understand why Binance is the top choice for digital asset trading.

SHELL HODLer Airdrop Details

Token Name	MyShell (SHELL)
Genesis Total Supply	1,000,000,000 SHELL
Max Token Supply	1,000,000,000 SHELL
HODLer Airdrop Allocation	25,000,000 SHELL (2.5% of total supply)
Additional HODLer Airdrop (6 months later)	25,000,000 SHELL
Circulating Supply at Listing	270,000,000 SHELL (27% of total supply)
Networks	Ethereum, BNB Chain
Listing Fee	0

How to Trade SHELL with Lower Fees on Binance

Trading on Binance can lead to increased fees due to high trading activity and market demand. To reduce costs, new users can sign up using a Binance referral and receive:

20% off spot trading fees
10% off futures trading fees
Exclusive cashback bonuses for eligible users

By taking advantage of the Binance referral program, traders can optimize their trading costs and maximize their profit potential.

What is Binance HODLer Airdrops?

Binance HODLer Airdrops is a rewards program for BNB holders, distributing free tokens based on historical BNB balance snapshots. Users who subscribe their BNB to Simple Earn (Flexible or Locked) or On-Chain Yields are automatically eligible for these airdrops.

Unlike other reward programs that require active participation, HODLer Airdrops retroactively reward users without extra actions. This makes it a simple and passive way to earn additional crypto assets on Binance.

Source link

Ethereum

Ethereum Key Support: Cost Basis Data Points To $1,890 As Make-Or-Break Level

Published

6 hours ago

March 1, 2025

Coin2049 Newsletter

In line with major losses across the crypto market, Ethereum (ETH) declined by 17.08% in the past week reaching as low as $2,104. While the prominent altcoin has shown some minor gains in the past 12 hours, the general market sentiment remains bearish.

ETH Correction Likely Headed To $1,890 – Here’s Why

The ETH market is currently navigating a strong market correction with several analysts now spotlighting potential key support levels. According to prominent on-chain analytics firm Glassnode, data from the Cost Basis Distribution (CBD) metric indicates Ethereum is poised for a decline to $1,890 which represents its next major accumulation zone.

For context, CBD is used to identify significant levels of an asset’s accumulation or distribution. These identified zones often act as support or resistance and are influential on price actions. Analysts at Glassnodes state that the major ETH accumulation zone below its current price is $1,890 at which investors acquired approximately 1.82 million ETH in August 2023.

Ethereum

Interestingly, a two-year analysis of Ethereum’s CBD shows that some of these investors who accumulated ETH in August 2023 remain active. Notably, a significant number of them increased their cost basis during the crypto market in November 2024 while executing no distribution at range highs – a behavior that signals a strong confidence in long-term price appreciation.

However, it is worth stating that $1,890 is not the immediate support zone for the ETH market. Glassnode states that CBD data also highlights $2,100 as the next support zone if Ethereum’s correction continues.

This support level only holds around 500,000 ETH i.e. significantly lower than the accumulation seen at $1890. Albeit, investors can expect $2,100 to offer some short-term support before ETH experiences a deeper correction to $,1890.

Is ETH Accumulation On Amid Price Dip?

In a further analysis of the Ethereum market, Glassnode also reveals that a six-month perspective on the cost basis trend shows strong investor activity with at cost basis levels far higher than the current market price, particularly around $3,500.

Notably, this cost basis has shown a gradual decline while increasing in concentration. This development indicates that rather than initiating a sell-off, investors are actively absorbing market supply as prices decline in anticipation of long-term gains.

At the time of writing, Ethereum trades at $2,250 following a 3.84% gain in the past day. Meanwhile, its heavy decline over the past week moves its monthly losses to around 30.48%. However, its market activity has increased by 7.74% and is now valued at $29.91 billion.

Ethereum

Source link

Ethereum

Ethereum Faces Bearish Pressure As Sentiment Hits 12-Month Low – Can ETH Avoid Dropping Below $2,000?

Published

11 hours ago

March 1, 2025

Coin2049 Newsletter

Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could trigger additional losses for investors.

Ethereum Sentiment At A 12-Month Low

According to data from CoinGecko, Ethereum has dropped roughly 28% over the past 30 days and is currently trading around the $2,200 level. The cryptocurrency has shed more than $230 billion in market capitalization since December 2024.

Crypto investment manager 0xLouisT took to X to share a chart indicating that sentiment around Ethereum is at its lowest point in a year. A drop below $2,000 could intensify bearish sentiment, putting further pressure on ETH.

Similarly, Bitcoin (BTC) trader and investor Jason Pizzino remarked that ETH could be “in more trouble than expected” if it closes below the $2,000 to $2,100 range. He added:

Remember, February was when most influencers were beating the drum for $ETH and told us to “follow the money” because Trump et al., were buying millions of dollars. That always sounds fishy to me.

A close below $2,000 would complete a bearish double-top pattern on the monthly chart, potentially sending ETH into the low $1,000 range. For context, the last time Ethereum traded in the $1,500 range was in October 2023.

Fellow crypto analyst Morin highlighted ETH’s weekly demand level between $1,900 and $2,100, with the weekly supply zone positioned around $2,600. The analyst expects the digital asset to fluctuate within this range “in the near future.”

Some Positive Signs For ETH

While the short-term outlook for ETH appears uncertain, some indicators suggest that investors have not completely lost confidence in the asset. For instance, using on-chain data, crypto analyst Ali Martinez emphasized that large holders – also known as crypto whales – have bought more than 110,000 ETH in the last 72 hours.

ETH whales are unfazed from the recent price slump as they continue to accumulate | Source: ali_charts on X

Similarly, Leon Waidmann, Head of Research at Onchain Foundation, pointed out that despite ETH’s price decline, exchange reserves continue to drop. Waidmann noted that falling exchange reserves indicate investor confidence, as fewer ETH tokens are being moved to exchanges for potential selling.

However, concerns remain for Ethereum, particularly as the network’s staking percentage has seen a sharp decline from its peak in November 2024. On the other hand, crypto analyst Ted Pillows remains bullish, predicting that ETH is still on track to surpass $10,000. At press time, ETH is trading at $2,222, down 3.6% in the past 24 hours.