- Voyager presently holds almost 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, by way of Wintermute. In trade, Voyager acquired 2.25 million USDC.
Voyager offered 1,449 $ETH by way of Wintermute and acquired 2.25M $USDC 2 hrs in the past, the promoting value is $1,553.
Voyager continues to be promoting property and presently 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? Test the Ethereum Revenue Calculator
After this large transaction, Voyager holds almost 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 everyone of their tracks” with out explaining easy methods to handle its considerations.
Ought to Ethereum HODLers be fearful?
Although the sell-off introduced together with it the potential for an additional dump, the possibilities of that occuring 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 urged 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 few weeks, whereas the identical metric for high trade addresses declined barely.
Not solely this, however Ethereum’s trade provide not too long ago 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.
As an illustration, the full worth locked within the ETH 2.0 deposit contract simply reached an all-time excessive of 16,694,295 ETH, which regarded 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
Apart from, as per CryptoQuant’s data, ETH’s trade reserve was lowering, indicating much less promoting stress.
The king alt’s whole variety of energetic wallets additionally elevated. Nevertheless, ETH’s taker buy-sell ratio turned purple. This was a adverse sign, because it indicated that promoting sentiment was dominant within the derivatives market.
Lifelike or not, right here’s ETH market cap in BTC‘s phrases
First rate on-chain efficiency
Moreover, Santiment’s chart urged 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 few weeks, which was a optimistic sign. Nonetheless, regardless of the Shanghai improve anticipation, ETH’s improvement exercise has declined these days.
Supply: Santiment
