ETH Holder Confidence Remains Strong Amidst $10 Million Sell-Off

Monday, 30 September 2024, 12:00

Altcoin analysis indicates that Ethereum (ETH) holders continue to show resilience despite recent sell-offs by the Ethereum Foundation. Even with a $10 million liquidation of ETH, investor sentiment remains optimistic. This analysis explores the implications of these transactions on the Ethereum market and future price predictions.
Beincrypto
ETH Holder Confidence Remains Strong Amidst $10 Million Sell-Off

Sell-Off Overview

Earlier today, the Ethereum Foundation sold 100 ETH for $262,474, contributing to a total of 3,766 ETH sold this year, amounting to $10.46 million. This consistent trend of selling may cause shifts in market supply and demand.

Holders' Sentiment Analysis

Despite liquidation events, metrics like Net Unrealized Profit/Loss (NUPL) indicate that Ethereum holders maintain an optimistic outlook. Current data shows that the ratio of holders in profit has increased from 60% to 64.37%, reflecting investor confidence.

Price Analysis and Predictions

Currently priced at $2,632, Ethereum may be poised for a price surge if the Commodity Channel Index (CCI) continues to rise. Conversely, a decrease in CCI could indicate a potential decline.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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