Increase in the number of Ethereum whales owning more than 10,000 Ethereum in the last 30 days
Ethereum rose in the recent rally and the currency is close to breaking its previous record.
Ethereum recorded a new record that it had not recorded since 2018, as the price of the currency on the Binance platform reached $ 1438.
The rise in the price of the Ethereum coin coincided with an increase in the number of Ethereum whales owning more than 10,000 or more Ethereum.
Glassnode estimated the increase in the number of holders of more than 10,000 Ethereum with 32 new wallets in the last 30 days.
The recent rise in the number of holders of more than 10,000 Ethereum marks a new record in the last 13 months.
On the other hand, Ethereum, which is held in trading platforms, continues to decline and is at its lowest level in 14 months due to the accumulation of ETH investors.
The number of addresses holding 10,000 $ETH just reached a 13-month high. Over the past 30 days, 32 new whale addresses were created. $ETH balance on exchanges has also just hit a 14-month low, dropping 16% over the past 30 days.
— Bloqport (@Bloqport) January 23, 2021
Chart: @glassnode pic.twitter.com/KScTY99ep7
The platform "Bloqport" commented on Twitter by noting the recent rise in the number of Ethereum whales, and its tweet was as follows:
The number of addresses containing 10,000 Ethereum has reached its highest level in 13 months. Over the past 30 days, 32 new whale addresses have been created.The stock of ETH in trading platforms reached its lowest level in 14 months, dropping by 16% over the past 30 days.
Ethereum maintains a price of $ 1,200:
The fundamentals mentioned above are particularly bullish for Ethereum in the sense that Ethereum whales are piling up the currency due to potential gains from it this year.
A quick look at the charts reveals that Ethereum is currently trading above $ 1,300 and is continually struggling to maintain this area as support, as Bitcoin shows further weakness towards the weekly close.
Therefore, the obstacles for Ethereum to reach a new all-time high are:
First: Bitcoin needs to provide the right environment for the price of Ethereum to flourish, by maintaining a value higher than $ 28,000 during the next weekly shutdown.
Second: Bitcoin and Ethereum both have a lot of futures and options contracts that expire on Friday, January 29th.
Cryptocurrency traders are well aware that the expiration of these futures contracts is usually accompanied by extreme volatility that may send Ethereum into lower support areas at the end of January.