Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Fawpac2 on April 26, 2021, 11:39:33 PM
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Ethereum has stabilized above a massive support wall following the recent crypto market crash. Data shows a spike in the number of “whale” investors, which could help ETH rise to $3,000.
Ethereum Whales Bought the Dip
A recent downturn in the cryptocurrency market has led many investors to panic sell their previous investments.
According to the Crypto Fear and Greed Index (CFGI), the optimism among market participants dropped to the lowest levels recorded in more than a year. As prices tumbled across the board, the CFGI dropped to a value of 27, which is considered as “fear.”
However, negative investor attitudes generally provide other investors with an opportunity to profit, and large “whale” investors took advantage of the uncertainty to buy Ether at a discount.
Ethereum’s supply distribution chart shows that the number of addresses with 10,000 to 1,000,000 ETH rose by 0.70% over the past week. Roughly nine whales joined the network within that period. Source (https://cryptonews.net/582018/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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I hold a certain amount of ethereum and hope that under the completion of the upgrade of its network and after that this coin will grow well in value. Reading once again convinces me of such growth. If whales buy ethereum at the current slight drop, then they are confident in its further growth and that the price of this coin will no longer fall below the purchase price.
Of course, once the network upgrade is complete, ethereum should skyrocket in popularity and value.