Daily Ethereum (ETHWhale transactions recorded a significant decline in the last day, while asset prices surged.
ETH’s price is currently $3,350. It has risen by 4.4% during the past 24 hour. The second largest cryptocurrency by market capitalization is Ethereum. cryptocurrency The crypto market has recovered by 13% in the last week.
Ethereum’s market cap is currently $400 billion, with an average daily volume of trading of $12.7 Billion.
According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of ETH decreased by 56% over the past 24 hours — dropping from 11,115 to 4,827 unique transactions per day.
Small investors have boosted the price of the whale asset with the aid of the declining whale activity. There is a low probability of market manipulation.
On the other hand, data from the market intelligence platform shows that the ETH total open interest has been consistently rising over the past week — surging from $6.04 billion on July 8 to $6.97 billion at the reporting time.
Open interest is usually accompanied by high volatility in prices due to the increased liquidity. The Ethereum price increased, according to Coinglass data, the amount of ETH liquidations reached $24 million — $5 million in long and almost $19 million in short positions.
It is also possible to use the ETH Relative Strength Index, or RSI for short, has also been steadily rising since the 7th of July. Santiment data shows that Ethereum’s RSI hovers at 50, indicating the asset in good shape for a possible price increase.
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Source: crypto.news