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- Voyager at present holds practically 148,774 ETH, over $57 million price of SHIB, and 1.44 million LINK.
- ETH accumulation elevated and metrics remained bullish.
Twitter account Lookonchain revealed an attention-grabbing transaction that occurred on 5 March 2023. As per the tweet, Voyager continued to dump its holdings because it offered 1,449 Ethereum [ETH], price over $2 million, through Wintermute. In alternate, Voyager obtained 2.25 million USDC.
Voyager offered 1,449 $ETH through Wintermute and obtained 2.25M $USDC 2 hrs in the past, the promoting value is $1,553.
Voyager continues to be promoting belongings and at present holds:
– 148,774 $ETH($233.5M)
– 5.17T $SHIB($57.78M)
– 1.44M $LINK($10M)
– 1.17B $STMX($7.3M)
– 411,052 $AVAX($6.7M)
… pic.twitter.com/VnaJJUh5nv— Lookonchain (@lookonchain) March 5, 2023
Is your portfolio inexperienced? Verify the Ethereum Profit Calculator
After this large transaction, Voyager holds practically 148,774 ETH, price $233.5 million, over $57 million price of Shiba Inu [SHIB], and 1.44 million Chainlink [LINK], amongst others.
This episode occurred whereas the SEC objected to the deal between Binance and Voyager, saying the regulator had basically requested to “cease all people of their tracks” with out explaining the best way to deal with its issues.
Ought to Ethereum HODLers be frightened?
Although the sell-off introduced together with it the potential for an extra dump, the probabilities of that taking place have been skinny. Glassnode’s knowledge revealed that the variety of addresses with greater than 1 ETH reached a one-month excessive of 1,743,911 on 5 March.
The rise on this metric steered that the market’s confidence in ETH was excessive as extra buyers trusted the token.
📈 #Ethereum $ETH Variety of Addresses Holding 1+ Cash simply reached a 1-month excessive of 1,743,911
Earlier 1-month excessive of 1,743,906 was noticed on 04 March 2023
View metric:https://t.co/IuKpD48IXd pic.twitter.com/uZlInGC2zK
— glassnode alerts (@glassnodealerts) March 5, 2023
As per Santiment, ETH’s whole provide held by high addresses additionally elevated final month. As accumulation elevated, the potential for a dump was decreased.
Moreover, it was attention-grabbing to see a hike within the provide held by high non-exchange addresses over the previous couple of weeks, whereas the identical metric for high alternate addresses declined barely.
Not solely this, however Ethereum’s alternate provide just lately fell to a five-year low.
Supply: Santiment
The long run seems to be safe
Because the date of the much-awaited Shanghai improve approaches, a number of different metrics additionally turned in ETH’s favor, giving hope for a safe future.
For example, the entire worth locked within the ETH 2.0 deposit contract simply reached an all-time excessive of 16,694,295 ETH, which seemed promising.
📈 #Ethereum $ETH Complete Worth within the ETH 2.0 Deposit Contract simply reached an ATH of 16,694,295 ETH
Earlier ATH of 16,693,623 ETH was noticed on 04 March 2023
View metric:https://t.co/SzbMPqvhlb pic.twitter.com/Vs9XzHj5OJ
— glassnode alerts (@glassnodealerts) March 5, 2023
In addition to, as per CryptoQuant’s data, ETH’s alternate reserve was lowering, indicating much less promoting strain.
The king alt’s whole variety of energetic wallets additionally elevated. Nonetheless, ETH’s taker buy-sell ratio turned crimson. This was a destructive sign, because it indicated that promoting sentiment was dominant within the derivatives market.
Real looking or not, right here’s ETH market cap in BTC‘s phrases
Respectable on-chain efficiency
Moreover, Santiment’s chart steered that ETH’s velocity remained comparatively excessive, indicating extra motion of the asset throughout addresses.
Its community progress additionally managed to go up in the previous couple of weeks, which was a constructive sign. Nonetheless, regardless of the Shanghai improve anticipation, ETH’s growth exercise has declined currently.
Supply: Santiment
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