Increase in wallets with 1,000 ETH or more indicates bullish sentiment as Merge approaches
The number of ETH wallets holding over 1,000 ETH surges to a 15-month high as Ethereum Merge approaches.
This could be a bullish sign for ETH that investors expect a price rally after the Merge that started on Sep. 7 and is expected to be completed around Sep. 15. The last similar surge in wallet addresses happened around May 2021.