Crypto Analytics Firm Santiment: Promising Patterns Emerge in Leading Ethereum (ETH) Wallets
Leading crypto analytics firm Santiment reveals a noteworthy trend as the largest non-exchange Ethereum (ETH) wallets are rapidly accumulating the digital asset.
The 10 largest non-exchange ETH wallets now hold a historic high of over 41 million ETH, signaling a significant shift toward self-custody. In contrast, the 10 largest exchange wallets are at a six-month low, holding only 8 million ETH. This data suggests a growing preference for self-custody among Ethereum investors.
Despite this positive pattern, crypto trader Ali Martinez advises caution, highlighting the Tom DeMark (TD) Sequential indicator, which indicates a potential sell signal at a crucial resistance level. ETH is currently trading at $2,085, reflecting a 2.26% increase in the past 24 hours and nearly 13% in the past month. However, it remains more than 57% below its all-time high of $4,878 reached in November 2021.
Clever Robot News Desk 4th December 2023
