The short answer is no, whales are not selling Ethereum.
The slightly longer answer is that while large holders of ETH could theoretically sell their holdings and drive the price down, there is no evidence that this is happening. In fact, data from Coin Metrics shows that large ETH holders have been accumulating more ETH since the beginning of the year.
So why are prices falling if whales aren’t selling?
There are a few possible explanations:
1) The rise of Bitcoin has siphoned off some demand for Ethereum. This is likely because investors see Bitcoin as a better store of value than Ethereum and are more confident in its long-term prospects.
2) The DeFi boom has led to a lot of ETH being locked up in smart contracts, making it less available for trading. This has likely reduced liquidity and made it harder for buyers to find sellers, leading to downward pressure on prices.
3) The financial crisis in Turkey has led to a flight to safety, with investors selling ETH and buying US dollars. This has exacerbated the already weak demand for Ethereum.
Whatever the reasons, it’s clear that whales are not behind the recent price decline. So if you’re thinking of buying ETH, don’t be discouraged by the current market conditions.
NOTE: Warning: Investing in cryptocurrencies, such as Ethereum, is a high-risk endeavor. Before investing in Ethereum or any other cryptocurrency, please do your research and consult a financial advisor to understand the associated risks and rewards. Be aware that whales (large investors) may be manipulating the market by buying and selling large amounts of Ethereum, which can cause price fluctuations that could harm individual investors.
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In 2015, a 19-year-old Russian-Canadian programmer named Vitalik Buterin published a white paper describing Ethereum, a decentralized platform that would use blockchain technology to enable anyone to build and run decentralized applications. The vision was to create a “World Computer” that would be more resilient and democratized than the centralized servers that power the internet today. Since its launch in 2015, Ethereum has grown to become the second largest blockchain platform by market capitalization, with a community of developers building thousands of decentralized applications on its network.
As of late, Ethereum has been on an absolute tear. The price of ETH has surged from around $100 at the start of 2017 to nearly $1,400 at the time of writing. That represents a gain of over 1,200% in less than a year!
In the past year, Ethereum has seen incredible growth. The value of Ethereum has gone up from $8 in January 2017 to over $1,000 in January 2018. This growth has led many people to ask the question, “Is Ethereum a good trade?”
There are a few factors to consider when answering this question.
Ethereum, the world’s second-largest cryptocurrency by market value, is a buy, say analysts at investment bank Goldman Sachs. In a note to clients Monday, the Goldman analysts said they expect ethereum to benefit from growing interest from central banks and corporations in using the cryptocurrency and its underlying blockchain technology.
“We believe Ethereum is benefiting from three distinct tailwinds: 1) a structural change in the cryptocurrency industry as crypto assets become more institutionalized; 2) a broadening set of use cases for Ethereum’s decentralized platform; 3) and technical improvements to Ethereum’s blockchain network,” the analysts wrote. The price of ether, the native cryptocurrency of the Ethereum blockchain, has surged more than 400% this year as corporations and financial institutions have shown increasing interest in using Ethereum’s blockchain to build new applications.
There is no simple answer to this question. Ethereum is a decentralized platform that runs smart contracts, while octopuses are a species of marine invertebrate. However, there are some potential similarities between the two.
As of late, Ethereum has been receiving a lot of attention in the cryptocurrency world. And for good reason! Ethereum is the second most popular cryptocurrency by market capitalization, right behind Bitcoin.
Gemini, the digital asset exchange founded by the Winklevoss twins, has been growing in popularity since its launch in 2015. In recent months, the exchange has seen an influx of new users and trading activity, due in part to its listing of Ethereum (ETH). Gemini is one of the few exchanges that offer ETH/USD trading pairs and has become a go-to platform for many investors looking to buy or sell Ethereum.
There is no doubt that Ethereum has been a game changer in the world of cryptocurrency. In less than two years, it has become the second largest blockchain platform after Bitcoin, with a market capitalization of over $1 billion. But what is Ethereum and what makes it so special?
When it comes to Ethereum, there is no question that it has had a roller coaster of a ride over the past year. The price of Ethereum reached an all-time high in January of 2018, only to crash down to around $100 by the end of the year. This was followed by a slight rebound in early 2019, before the price once again fell back down to around $100.
