- Voyager at the moment holds practically 148,774 ETH, over $57 million value 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], value over $2 million, by way of Wintermute. In trade, Voyager obtained 2.25 million USDC.
Voyager offered 1,449 $ETH by way of Wintermute and obtained 2.25M $USDC 2 hrs in the past, the promoting value is $1,553.
Voyager remains to be promoting belongings and at the moment 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? Examine the Ethereum Revenue Calculator
After this large transaction, Voyager holds practically 148,774 ETH, value $233.5 million, over $57 million value 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 primarily requested to “cease everyone of their tracks” with out explaining find out how to handle its issues.
Ought to Ethereum HODLers be apprehensive?
Although the sell-off introduced together with it the potential of an extra dump, the probabilities of that occuring had 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 instructed that the market’s confidence in ETH was excessive as extra traders 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 complete provide held by high addresses additionally elevated final month. As accumulation elevated, the potential of a dump was diminished.
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 trade addresses declined barely.
Not solely this, however Ethereum’s trade provide lately fell to a five-year low.
Supply: Santiment
The long run appears to be like 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 full worth locked within the ETH 2.0 deposit contract simply reached an all-time excessive of 16,694,295 ETH, which appeared 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
Moreover, as per CryptoQuant’s data, ETH’s trade reserve was reducing, indicating much less promoting strain.
The king alt’s complete variety of lively wallets additionally elevated. Nonetheless, ETH’s taker buy-sell ratio turned crimson. This was a detrimental sign, because it indicated that promoting sentiment was dominant within the derivatives market.
Practical or not, right here’s ETH market cap in BTC‘s phrases
First rate on-chain efficiency
Moreover, Santiment’s chart instructed that ETH’s velocity remained comparatively excessive, indicating extra motion of the asset throughout addresses.
Its community development 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 recently.
Supply: Santiment
