On-chain data shows the Ethereum whales have sold the asset recently, while key holders on the Bitcoin network have accumulated instead.
Ethereum Whales Have Sold Into The Latest Rally
As explained by analyst Ali Martinez in a new post on X, the Ethereum whales have participated in selling recently. The “whales” here refer to the ETH entities holding between 1,000 and 10,000 ETH.
At the current exchange rate, this range converts to $1.8 million to $18 million. While these bounds don’t cover the largest of holders in the sector, they do still contain some of the key investors.
The investors have collectively added a total of 19,255 BTC to their wallets alongside the price rally. Thus, it would appear that the key holders of the cryptocurrency are supportive of the recovery run.
Naturally, this could imply the Bitcoin rally may have more chances of being sustainable than the Ethereum one. That said, things can change quickly in the digital asset sector, so the trend related to the large entities of both might be worth keeping an eye on.
ETH Price
At the time of writing, Ethereum is trading around $1,800, up more than 12% in the last week.
