In the past day, large holders of Ethereum accumulated 449,000 ETH

This week, large holders of Ethereum replenished their crypto wallets with a record 449,000 ETH. This is the highest level since 2018.

Moreover, this indicates the optimism of the 'whales' regarding the future of the leading altcoin, even though many of them are still at a loss after the asset's price drop.

The number of active addresses on the Ethereum blockchain has increased by 10%, which indicates a rise in trader engagement. However, activity in the DeFi sector still remains low, and DEX volumes are decreasing.

Recently, there has also been significant activity from 'whales'. A long-term holder of Ethereum recently transferred ETH worth $27.6 million after more than 900 days of inactivity. This action caused a brief drop in the price of the leading altcoin, but it didn't last long before the cryptocurrency stabilized.

At the time of writing, Ethereum was trading at $1800. This is nearly 60% lower than its all-time high of $100. Over the past week, the largest altcoin by market capitalization has appreciated by 12.3%, with a gain of about 1.4% in the last 24 hours.