Ethereum looks primed to rebound while other cryptocurrencies continue to bleed after the recent crash.
Whales Make Money Moves
Ethereum saw its rate visit nearly 34% over the past three days. The abrupt bearish impulse appeared after Ethereum reached a brand-new all-time high of over $2,040. Due to the hype around such a substantial turning point, many overleveraged traders were eliminated of their positions as the cost of ETH crashed to $1,350.
Santiment’s Token Age Consumed index registered a substantial spike in idle ETH tokens exchanging hands after prices dropped. Such habits can indicate modifications in long-lasting holders’ perception of the market, and it tends to be preceded by increased volatility.