Whales dey sell $528M ETH as ETH accumulation hit 9,119
Blockchain analytics company Lookonchain tok say big Ethereum whales don sell 178,080 ETH (~$528M) for July 17, Trend Research lead di way with 79,470 ETH wey dem sell and another whale sell 98,610 ETH. Even tho, one Ethereum spot ETF record $192M net inflows, meaning say institution demand still dey strong. For the recent nine hours, two wallets don gather 9,119 ETH (~$30.7M), show renewed ETH gathering plus whale activity dey increase. Traders suppose dey watch on-chain metrics and whale addresses for more gathering trends. The big sell-off fit cause short-term price pressure, but the steady ETH gathering and ETF inflows show say bullish momentum dey, supply fit tight, plus volatility dey come.
Bullish
Di combine sell-off wey Ethereum whales dey do fit put short-term pressure to make ETH price go down as big supply enter market. But smaller wallet dem still dey collect ETH, plus strong Spot ETF inflows dey show say demand plenty and people believe say Ethereum go go up. Historically, big on-chain accumulation events dey come before bullish momentum and tight supply, wey fit support higher price floor. So, even tho short-term wahala fit happen, overall outlook for ETH still dey bullish because institutional ETF demand and new whale accumulation dey push am.