Price prediction for Ethereum as mega whales dictate market dynamics
The post Price prediction for Ethereum as mega whales dictate market dynamics appeared on BitcoinEthereumNews.com. As the majority of assets in the cryptocurrency sector have returned to their previous state prior to the rally triggered by the fake news regarding the spot Bitcoin (BTC) exchange-traded fund (ETF) approval, Ethereum (ETH) whales have taken the cue and switched on the accumulation mode. Specifically, Ethereum whale addresses in the billionaire tier, i.e. cryptocurrency wallets with at least 1 million ETH, currently hold 32.27% of the available ETH supply for the first time in seven years, according to the information offered by cryptocurrency market analytics platform Santiment on October 17. Indeed, as the analytics platform’s chart analysis indicates, these “uber whale addresses with 1M+ ETH” currently own almost a third of all Ethereum supply for the first time since July 2016. At the same time, the whale transactions exceeding $1 million in ETH had their second-highest day in five weeks on October 16, counting around 520 transfers. Ethereum 1M+ wallets and transactions over $1M. Source: Santiment At the same time, Ethereum has recorded another historic moment as the number of its wallets with balance crossed 100 million, as per the recent data shared by blockchain analytics platform IntoTheBlock in an X post on October 18. Ethereum wallets with balance. Source: IntoTheBlock Ethereum price prediction It is also important to note that the artificial intelligence (AI) algorithms used at the crypto monitoring website CoinCodex suggest that Ethereum could recover and continue its growth in the future, setting its price at $1,624.54 (+3.58%) in the next month. On top of that, the algorithm’s forecast for the next three months suggests an increase to $3,002.68, which would represent an increase of 91.45% to its current price, whereas the website expects Ethereum at $3,967.14 (a growth of 152.95%) in six months time. Ethereum 6-month price prediction. Source: CoinCodex ETH price analysis Meanwhile,…
The post Price prediction for Ethereum as mega whales dictate market dynamics appeared on BitcoinEthereumNews.com.
As the majority of assets in the cryptocurrency sector have returned to their previous state prior to the rally triggered by the fake news regarding the spot Bitcoin (BTC) exchange-traded fund (ETF) approval, Ethereum (ETH) whales have taken the cue and switched on the accumulation mode. Specifically, Ethereum whale addresses in the billionaire tier, i.e. cryptocurrency wallets with at least 1 million ETH, currently hold 32.27% of the available ETH supply for the first time in seven years, according to the information offered by cryptocurrency market analytics platform Santiment on October 17. Indeed, as the analytics platform’s chart analysis indicates, these “uber whale addresses with 1M+ ETH” currently own almost a third of all Ethereum supply for the first time since July 2016. At the same time, the whale transactions exceeding $1 million in ETH had their second-highest day in five weeks on October 16, counting around 520 transfers. Ethereum 1M+ wallets and transactions over $1M. Source: Santiment At the same time, Ethereum has recorded another historic moment as the number of its wallets with balance crossed 100 million, as per the recent data shared by blockchain analytics platform IntoTheBlock in an X post on October 18. Ethereum wallets with balance. Source: IntoTheBlock Ethereum price prediction It is also important to note that the artificial intelligence (AI) algorithms used at the crypto monitoring website CoinCodex suggest that Ethereum could recover and continue its growth in the future, setting its price at $1,624.54 (+3.58%) in the next month. On top of that, the algorithm’s forecast for the next three months suggests an increase to $3,002.68, which would represent an increase of 91.45% to its current price, whereas the website expects Ethereum at $3,967.14 (a growth of 152.95%) in six months time. Ethereum 6-month price prediction. Source: CoinCodex ETH price analysis Meanwhile,…
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