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Over the last week, Ethereum (ETH) has seen its price take a slight hit following the general market <\/a>crash due\u00a0to reports of a massive Bitcoin sell-off.<\/span><\/p>\n According to data from CoinMarketCap<\/a>, ETH is down by 5.01% in the last seven days, bringing its total price loss in the previous month to 10.80%.\u00a0<\/span><\/p>\n Albeit, despite Ethereum\u2019s negative performance<\/a>, the on-chain analytics platform, Santiment, has noted some positive developments in terms of whale activity.<\/span><\/p>\n On Thursday, August 24, Santiment posted<\/a> a report on X (formerly Twitter) stating that Ethereum has recorded its largest level of whale transactions in the last 16 weeks.\u00a0<\/span><\/p>\n According to the blockchain intelligence firm, there has been a notable increase in transactions by addresses with large ETH holdings following the token\u2019s fall beneath the 1,650 price mark last week.<\/span><\/p>\n \ud83d\udc33 #Ethereum<\/a>\u2018s network has picked up in large address activity during this drop below $1,650 and its highly volatile price conditions. The amount of wallets holding between 10 and 10,000 $ETH<\/a> has risen back up to 355K, and $100K+ transactions have surged. https:\/\/t.co\/X137U93ZYu<\/a> pic.twitter.com\/J9lyMoeBmf<\/a><\/p>\n \u2014 Santiment (@santimentfeed) August 24, 2023<\/a><\/p>\n<\/blockquote>\n Sentiment reported that Ethereum experienced 23,073 ETH whale<\/a> transactions in the past week, marking the network\u2019s highest since May 4.\u00a0\u00a0<\/span><\/p>\n In addition, the report also stated that the number of wallets with 10-10,000 ETH had surged by 1,788 since the start of June, returning this metric to the previous high of 355,000.\u00a0<\/span><\/p>\n Based on Santiment\u2019s report, it can be inferred that the decline in ETH\u2019s price has led to a buying spree by large investors anticipating a price surge, thus taking advantage of the current market dip.\u00a0<\/span><\/p>\n Providing more insight into this trend, Lookonchain, another market intelligence firm, has also reported on the ongoing accumulation of ETH.\u00a0<\/span><\/p>\n Via an X post on Thursday<\/a>, Lookonchain stated that four whales have collectively purchased 56,100 ETH, valued at $94 million, in the last seven days.\u00a0<\/span><\/p>\n Following such heavy investments, it appears that ETH major investors are banking on the prominent altcoin to begin a market rebound soon.\u00a0<\/span><\/p>\nEthereum Experiences Highest Whale Activity In 4 Months<\/span><\/h2>\n
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Could The ETH Market Experience A Boost Soon?<\/span><\/h2>\n