Ethereum (ETH), the second-largest cryptocurrency by total market cap, could not escape the bears’ pressure. ETH, which lost 4% after the Bitcoin price dropped to the level of $ 31,000, is, particularly under the group’s selling pressure.

Mid-Tier ETH Whales Selling
According to the information provided by the cryptocurrency data analytics firm Santiment, large-scale Ethereum whales continue to hold ETH in their hands. On the other hand, medium-sized Ethereum whales continue to sell during the decline and suppress the price. According to the information provided by Santiment, the wallets with between 100 and 10,000 ETH were sold heavily after reaching a record.

Whale wallets with 10,000 or more ETH are seen to continue to receive more ETH day by day.
So, for now, small and medium-sized investors are selling their assets, while large whales continue to add funds to their funds.

According to Santiment data, active Ethereum supply dropped to a 3-year low. This shows that the whales who buy withdraw their funds from the exchanges and transfer them to their own wallets.
Just like Bitcoin, institutional investors’ purchases could soon lead to a liquidity crisis for ETH.

Santiment announced that the active Ethereum supply was 15,221,670,324. Previously, the lowest level was reached on January 17th. This shows that whales continue to buy in a short period of 4 days, and individual investors continue to sell.


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