Ethereum Deposits At 4-Month High: Whales Preparing For Selloff?
Summary
The Ethereum exchange netflow recently spiked, indicating a large positive trend. This suggests a significant amount of ETH was deposited into exchanges, potentially signaling selling behavior. Despite the large deposits, the asset's price has increased, possibly due to whales not selling or market demand absorbing the selling. However, if the whales eventually sell, it could have a bearish effect on Ethereum's price. The cryptocurrency's price is currently above $3,900, and it remains to be seen how the large deposits will impact its future price development.
