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Ethereum whales dumping ETH as price slides below $4K, data shows

Published 12/28/2021, 06:32 AM
Updated 12/29/2021, 08:20 AM
©  Reuters

Ethereum is having difficulty keeping its richest investors in line as its native token, Ether (ETH), hints at logging more losses in the near term.

Blockchain data analytics service Glassnode revealed that the number of Ethereum addresses holding at least 1,000 ETH dropped to 6,292 this Monday, the lowest reading since April 2017. At its year-to-date peak, the numbers were 7,239 in January.

Number of Ethereum addresses with balance of at least 1,000 ETH. Source: Glassnode
Number of Ethereum addresses with a balance of at least 10,000 ETH. Source: Glassnode
Number of Ethereum addresses with a balance of at least 0.1 ETH. Source: Glassnode
ETH/USD daily price chart featuring falling wedge. Source: TradingView
ETH/USD daily price chart featuring falling wedge targets. Source: TradingView
ETH/USD three-day price chart. Source: TradingView, Pentoshi

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