Pound to Dollar Chart and Prices Today

CrytpoQuant reports that major Ethereum holders, often referred to as “whales,” are actively engaging in a second significant round of profit-taking. Data reveal that wallets holding 100,000+ ETH, often referred to as “whales,” are actively reducing exposure through large-scale distribution. Historically, when whales start selling significant portions of their holdings, it sends a cautionary signal to the broader market as traders reason that actions of sophisticated investors reflect their expectations for near-term price movements. It is interpreted as a cautious outlook on Ethereum’s ability on part of sophisticated investors to deliver significant short-term upside from its present valuation. On the fundamental level, this distributing of part of whales’ holdings into the market amounts to increased selling activity by whales, which injects additional supply into the market. If this surge in supply isn’t matched by higher demand, it can create downward pressure on Ethereum’s price, potentially limiting its near-term growth. Increased selling of Ethereum by whales is bearish for ETHUSD price. However, the current setup is bullish for the ETHUSD.