MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

Ethereum Whales Continue Ramping up, Despite Price Slip Below $4,000

December 14, 2021
in Blockchain
Reading Time: 3 mins read
A A
Ethereum Whales Continue Ramping up, Despite Price Slip Below $4,000
ShareShareShareShareShare

Whales of Ethereum (ETH) have taken advantage of the retracement happening in the market by accumulating more coins. Lex Moskovski, the CIO of Moskovski Capital, explained:

“ETH supply held by 1K – 10K accounts has surged. $4M – $40M ultrasound whales ramped up their positions.”

 

Image

Ethereum’s price was hovering around $3,793 during intraday trading, according to CoinMarketCap. This is a 21.9% drop from the all-time high (ATH) price of $4,860 recorded last month.

Therefore, whales of ETH are seeing this as the calm before the storm based on their notable spending spree.

Graphics card updated to unlock more Ethereum mining hashrate

Ethereum miners have the opportunity to increase the hashrate by 21%, thanks to EVGA’s BIOS update of the Nvidia RTX 3080ti LHR graphics card. EVGA Corporation is an American computer hardware company that produces graphic cards.

Therefore, the power lock issue experienced during mining is expected to be solved by this update.

Meanwhile, a study by Arcane Research revealed that ETH miners had cashed in the most in the crypto space, even surpassing Bitcoin miners. The revenue for Ethereum miners stood at $17 billion whereas that of BTC miners was $13.6 billion. 

Furthermore,  the top 5 Ethereum mining pools account for 65.4% of all the ETH mined. 

On the other hand, the price drop witnessed in the Ethereum network has given users a sigh of relief because the median fees recently decreased to $5.50 per transaction from highs of $34.18 witnessed last month. 

Market insight provider Santiment acknowledged that the low fees were driving ETH utility levels higher because they were more appealing to traders. 

“With ETH fees coming back to earth rapidly with this December price correction, address activity has soared to 7-month high levels. Utility of Ethereum is far more appealing to traders with fees back down to $5.50 per transaction.”

As the year inches closer to the end, it remains to be seen how Ethereum’s price plays out. 

Image source: Shutterstock


Credit: Source link

ShareSendTweetPinShare
Previous Post

[OPINION] Should banks be held liable for the BDO/Unionbank phishing scam?

Next Post

5 Altcoins to Invest in For High Returns During Altseason 2022

Next Post
5 Altcoins to Invest in For High Returns During Altseason 2022

5 Altcoins to Invest in For High Returns During Altseason 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

Thailand reveals new CBDC plans

Thailand reveals new CBDC plans

August 5, 2022
Did You Miss What Microsoft Had to Say?

Did You Miss What Microsoft Had to Say?

August 9, 2022
Since Christmas 2020, the number of Cardano wallets has grown 1200%

Cardano whales’ activity increased substantially this week, is ADA poised to hit $1?

August 6, 2022
Decentralized Investment Group Launches We Are Ukraine NFT

Decentralized Investment Group Launches We Are Ukraine NFT

August 10, 2022
Coinbase CEO Brian Armstrong says ‘the more regulation there is for crypto, the better it is for Coinbase’

Coinbase CEO Brian Armstrong says ‘the more regulation there is for crypto, the better it is for Coinbase’

August 9, 2022
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • Crypto Broker Genesis Says Lending Business Declined in Q2
  • Australian crypto ownership warrants consumer protection, says regulator
  • MakerDAO plans against sanctions from USDC exposure

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 24,434.00 6.77%
  • ethereumEthereum (ETH) $ 1,888.43 12.64%
  • tetherTether (USDT) $ 1.00 0.17%
  • bnbBNB (BNB) $ 332.16 4.87%
  • usd-coinUSD Coin (USDC) $ 1.00 0.03%
  • xrpXRP (XRP) $ 0.383395 6.08%
  • cardanoCardano (ADA) $ 0.545185 6.83%
  • binance-usdBinance USD (BUSD) $ 1.00 0.15%
  • solanaSolana (SOL) $ 44.24 12.3%
  • polkadotPolkadot (DOT) $ 9.52 9.77%
  • dogecoinDogecoin (DOGE) $ 0.071982 5.29%
  • avalanche-2Avalanche (AVAX) $ 29.62 6.84%
  • staked-etherLido Staked Ether (STETH) $ 1,824.60 12.74%
  • shiba-inuShiba Inu (SHIB) $ 0.000013 16.67%
  • daiDai (DAI) $ 0.998232 0.14%
  • matic-networkPolygon (MATIC) $ 0.943296 7.13%
  • tronTRON (TRX) $ 0.071064 3.8%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 24,433.00 6.54%
  • ethereum-classicEthereum Classic (ETC) $ 38.97 4.97%
  • okbOKB (OKB) $ 19.22 7.22%
  • leo-tokenLEO Token (LEO) $ 4.77 3.29%
  • nearNEAR Protocol (NEAR) $ 5.88 9.8%
  • litecoinLitecoin (LTC) $ 62.25 6.25%
  • ftx-tokenFTX (FTT) $ 32.04 9.13%
  • chainlinkChainlink (LINK) $ 9.12 7.88%
  • uniswapUniswap (UNI) $ 9.26 10.17%
  • crypto-com-chainCronos (CRO) $ 0.154273 6.87%
  • cosmosCosmos Hub (ATOM) $ 12.10 11.42%
  • flowFlow (FLOW) $ 3.09 4.66%
  • stellarStellar (XLM) $ 0.126450 4.68%
  • moneroMonero (XMR) $ 168.28 6.17%
  • bitcoin-cashBitcoin Cash (BCH) $ 144.28 8.55%
  • algorandAlgorand (ALGO) $ 0.369334 7.83%
  • vechainVeChain (VET) $ 0.033316 12.24%
  • filecoinFilecoin (FIL) $ 8.86 10.07%
  • apecoinApeCoin (APE) $ 7.17 4.67%
  • internet-computerInternet Computer (ICP) $ 8.61 11.14%
  • decentralandDecentraland (MANA) $ 1.09 6.63%
  • chain-2Chain (XCN) $ 0.088299 1.36%
  • hedera-hashgraphHedera (HBAR) $ 0.080572 8.63%
  • the-sandboxThe Sandbox (SAND) $ 1.36 6.04%
  • tezosTezos (XTZ) $ 1.93 8.61%
  • quant-networkQuant (QNT) $ 130.39 7.13%
  • axie-infinityAxie Infinity (AXS) $ 18.76 7.39%
  • theta-tokenTheta Network (THETA) $ 1.63 7.66%
  • aaveAave (AAVE) $ 111.92 14.89%
  • elrond-erd-2Elrond (EGLD) $ 68.15 11.27%
  • lido-daoLido DAO (LDO) $ 2.71 19.79%
  • fraxFrax (FRAX) $ 1.00 2.36%
  • eosEOS (EOS) $ 1.32 12.28%