© Reuters. Santiment data reveals mixed trends among large ETH holders
- ETH is currently worth around $1,710.36 after a 3.45% price increase.
- Addresses containing 10-10k ETH combined have added over 3 million coins over the past year.
- The most important supply barrier for ETH is currently between $1,720 and $2,150.
Most of the top ten cryptocurrencies are trading in the green today, and the same can be said for the largest cryptocurrency by market cap, (ETH). According to CoinMarketCap, ETH is currently worth around $1,710.36 after a 3.45% increase in price over the past 24 hours. ETH also managed to reach highs of $1,726.62 and $1,644.54 during the same time period.
Ethereum / US 1D (Source: TradingView)
The altcoin’s weekly performance is also looking higher as ETH is in the green by more than 20% over the past seven days. The altcoin’s 24-hour trading volume is currently in the red and now stands at $9,849,552,804 after dropping more than 20% since yesterday. In terms of market cap, ETH is $209,313,510,016.
Offer Ethereum held by 10-10k vs 10k-10m (Source: Santiment)
Well-known market intelligence platform Santiment took to Twitter on March 16 to share some of its observations on the recent behavior of ETH holders. According to Santiment Data addresses holding 10-10k ETH have collectively added more than 3 million coins over the past year.
# Big Ethereum addresses have shifted their supply considerably. Addresses holding $10-10K worth of ETH combined added 3.61 million coins last year. Meanwhile, addresses worth between $10k and $10m worth of ETH collectively dumped 9.43m in the same time frame. https://t.co/5iETPLmP36 pic.twitter.com/HdIpuvp602
— Santiment (@santimentfeed) March 16, 2023
On the other hand, addresses with 10k to 10m ETH dumped more than 9m ETH over the same time period. Another crypto analyst also decided to share his observations about ETH on Twitter yesterday.
According to the analyst, the most important supply barrier for ETH is between $1,720 and $2,150. He added that if the bulls can break above these critical levels, there is basically no significant resistance that can prevent the price of ETH from going higher.
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Post-Santiment data revealed mixed trends among large ETH holders that first appeared in coin issuance.