Prediction/Analysis

These Ethereum indicators show that whales continue to grow.

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Some Ethereum indicators show that the whales continue to accumulate cryptocurrency, according to an on-chain analysis.

As foreign exchange reserves continue to fall, Ethereum sees negative net flows.

One CryptoQuant pointed this out PublishThe ETH indicators seem to be moving in directions that suggest that whales continue to accumulate.

Three important metrics are to be considered here: the net flow from all exchanges and the reserve of all Exchanges. The unique number of Ethereum 2.0 depositors is also important.

The net flow from all exchanges is an indicator showing the net amount of ETH entering and leaving centralized exchanges.

A negative value means that more coins are being transferred from exchanges into personal wallets than crypto enters. This could indicate that there is more interest in OTC and OTC transactions by investors.

A positive value is the opposite of what you would expect. Exchanges receive more Ethereum than they are sending out, so selling pressure could exist in the market.

This is the ETH all-trade net flow chart:

Negative netflows continue to be observed in Ethereum

The chart above shows that the indicator has recently shown negative peak values for cryptocurrency. Negative net flow is usually associated with an uptrend in crypto’s price.

FOMO Institutional Investors for Ethereum Exposure| FOMO Institutional Investors for Ethereum Exposure

The reserve of all Exchanges is the next indicator. It shows the total amount ETH that is in the exchange wallets. This value is higher if more ETH is transferred into exchanges for sale. A decrease in this value means that more investors are looking for personal wallets to store their coins.

Below is the Reserve Table for all Ethereum Exchanges:

Ethereum's exchange reserves plummet

The downtrend continues for Ethereum all exchanges reserve

This metric’s value has been declining in recent months, it seems. This is quite logical, given that net flows during this period were largely negative.

This decrease in foreign currency reserves means that more whales are accumulating ETH instead of looking for a dumping ground.

TA: Ethereum prints bearish technical pattern, why it might dip| TA: Ethereum prints bearish technical pattern, why it might dip

The number of unique ETH2.0 depositors is another indicator of the number accounts that have wagered at most 32 ETH.

As more of these whales became interested in staking parts, the metric’s value has increased. See the graphic below.

Number of Ethereum 2.0 depositors

The number of ETH 2.0 depositors increases

Ethereum price

At the time this writing, the price for Ethereum is hovering around $ 3,2,000, an increase of 1.8% over the previous 7 days. Here is a chart that shows how cryptocurrency prices have changed over the past 3 months.

Ethereum Price Table

After a sharp decline, Ethereum's value is now rising sharply. Source: ETHUSD| Source: ETHUSD on TradingView
Featured image taken from Unsplash.com. Charts from CryptoQuantTradingView.com

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