Ethereum Whales Shift Holdings, Impacting Market Sentiment

According to recent blockchain data, large Ethereum whales have been transferring significant amounts of ETH to crypto exchanges. These transactions typically involve hundreds of thousands of coins and are often followed by a surge in short-term selling pressure.

The rising exchange reserves suggest that there is more tradable supply available, which can impact price stability. If demand does not increase at the same time, prices could face downward pressure.

It's essential to note that the amount of Ethereum on exchanges is still lower than in past years, but it has risen compared to last quarter. The key question is whether this wave of selling is a short pause in a larger uptrend or the beginning of a deeper correction.