Price prediction for Ethereum as mega whales dictate market dynamics – Finbold – Finance in Bold


As the majority of assets in the cryptocurrency sector have returned to their previous state prior to the rally triggered by the fake news regarding the spot Bitcoin (BTC) exchange-traded fund (ETF) approval, Ethereum (ETH) whales have taken the cue and switched on the accumulation mode.
Specifically, Ethereum whale addresses in the billionaire tier, i.e. cryptocurrency wallets with at least 1 million ETH, currently hold 32.27% of the available ETH supply for the first time in seven years, according to the information offered by cryptocurrency market analytics platform Santiment on October 17.
Indeed, as the analytics platform’s chart analysis indicates, these “uber whale addresses with 1M+ ETH” currently own almost a third of all Ethereum supply for the first time since July 2016. At the same time, the whale transactions exceeding $1 million in ETH had their second-highest day in five weeks on October 16, counting around 520 transfers.
At the same time, Ethereum has recorded another historic moment as the number of its wallets with balance crossed 100 million, as per the recent data shared by blockchain analytics platform IntoTheBlock in an X post on October 18.
It is also important to note that the artificial intelligence (AI) algorithms used at the crypto monitoring website CoinCodex suggest that Ethereum could recover and continue its growth in the future, setting its price at $1,624.54 (+3.58%) in the next month.
On top of that, the algorithm’s forecast for the next three months suggests an increase to $3,002.68, which would represent an increase of 91.45% to its current price, whereas the website expects Ethereum at $3,967.14 (a growth of 152.95%) in six months time.
Meanwhile, ETH was at press time trading at the price of $1,568.37, which represents a decline of 1.36% on the day, a drop of 0.5% over the past week, and a loss of 4.23% on its monthly chart, according to the latest data on October 18.
All things considered, the above behavior by Ethereum’s largest whales suggests a growing interest and optimism among major investors in the future price increase for the second-largest cryptocurrency by market cap.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors
Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.
0% commission on stocks – buy in bulk or just a fraction from as little as $10.
Copy top-performing traders in real time, automatically.
Regulated by financial authorities including FCA and FINRA.
Copyright © 2023 FINODES LLC. All rights reserved. Use of this site constitutes acceptance of our Terms of Service.
WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.


Leave a Reply

Your email address will not be published. Required fields are marked *