Ethereum’s supply across whale addresses has dropped consistently since March 2020, offset by greater retail interest.
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Ethereum’s supply across whale addresses has dropped consistently since March 2020, offset by greater retail interest.
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Institutional investors accumulated Ether and sold off Bitcoin last week, suggesting confidence in Ethereum after the Shapella hard fork.
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Ether stakers have withdrawn $1.21 billion worth of ETH from Ethereum staking contracts since the Shapella upgrade.
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Ethereum staking withdrawals are picking momentum. But they have not been able to cause a major selloff as many had anticipated post the Shanghai upgrade.
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Ethereum funds have witnessed inflows worth only $600,000 in the week ending April 7 compared to Bitcoin’s $56 million.
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A deflationary Ethereum supply does not necessarily mean a bullish market for ETH, at least in the near term.
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Ethereum market dominance has doubled since the lunch of its staking contract in December 2020 as ETH price eyes levels not seen in five years versus Bitcoin .
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Ethereum on-chain data reveals a considerable rise in the number of Ether shark addresses with weeks before its hard fork in March.
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A bearish technical setup and a declining number of Ethereum whales pose downside risks for ETH price.
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