Total number of ETH whales is currently at a 13-month high
The number of Ethereum whales with 10,000 or more ETH increased by 32 in 30 days. The information is from the Bloqport team, who also pointed out that the total number of whales in this category reached the maximum in 13 months. In addition, Ethereum maintained on exchanges continues to decline and is at a 14-month low due to the backlog of ETH investors.
Bloqport shared his observations through the following statement and the accompanying graphic:
“The number of addresses with 10,000 ETH has peaked in 13 months. In the past 30 days, 32 new whale addresses have been created. ETH’s balance on exchanges also reached its lowest level in 14 months, falling 16% in the last 30 days.
Ethereum continues to hold the $ 1,200
The above fundamental factors are particularly optimistic for Ethereum, in the sense that ETH whales are accumulating coins due to their earning potential this year. A quick look at the charts reveals that Ethereum is currently trading at $ 1,225, after continually fighting to maintain this area as support, as Bitcoin exhibits more weakness at the close of the week.
Therefore, Ethereum’s obstacles to a new historic record are twofold. First, Bitcoin needs to provide the right environment for ETH to thrive. This is in the form of maintaining a value above $ 28k during this week’s weekly close.
Second, both Bitcoin and Ethereum have many futures and options contracts that expire on Friday, January 29. Cryptocurrency traders are well aware that such expirations are sometimes accompanied by extreme volatility that can send ETH to lower support zones in late January.