Ethereum is rather disappointing in this cycle, but something is happening in the background: aggressive purchases by large investors are visible. The new analysis found that wallets with balances between 10,000 and 100,000 ETH had a total balance of more than 21 million ETH.
Ethereum will still show strength?
As if that were not enough, Binance data shows a continuous decline in ETH reserves on the exchange – since September, the reserves of this top platform have dropped to approximately 3.764 million ETH. Of course, it is not the exchange that is getting rid of ether, but its clients are transferring their coins to their wallets to prepare for the next wave of growth.
CryptoQuant’s analysis leaves us with no doubts: the Ethereum market trend remains closely linked to the behavior of large investors. Previous cycles have shown that periods of intense whale accumulation typically coincide with the formation of solid price bases, which have historically preceded large upward moves.
The famous whale is betting on growth
Another interesting information is provided by Arkham, which drew attention to the Hyperliquid platform and its famous user, who had previously earned nearly USD 200 million by betting on market declines – just before the crash on October 10. Now this trader has changed his stance on ETH and placed an additional $10 million into his existing long position, which means that the ether growth position is now worth a total of $44.5 million. Earlier, this mysterious investor became famous for his very accurate movements on the stock exchange.
As I have been suggesting for a long time, macroeconomics is only now creating good conditions for cryptocurrencies: on December 1, the Fed will end quantitative tightening, and on December 10 it will probably cut interest rates again, which will emphasize a favorable scenario for the market.
