ETH transaction volume spikes 300%: Recent data shows a surge in large Ethereum transactions, with weekly volumes jumping from 7 billion USD to 17.15 billion USD. This increased activity, primarily led by whales, suggests heightened trading and possible market turbulence as investors reposition their assets.
Whale action reflects potential bearish trends: A prominent Ethereum whale deposited 11,639 ETH to Kraken. Such movements often indicate the possibility of market corrections. Currently, Ethereum’s price is nearing a critical resistance level of 4,000 USD. If it falls below 3,922 USD, it could further test support at 3,700 USD.
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