The leading cryptocurrency Bitcoin dropped to levels around $26,070, leading to a further decline during the day. Ethereum (ETH), on the other hand, experienced a loss of nearly 2% in the past 24 hours, trading at around $1650. As the downward momentum continues in the market, the crypto analytics platform Santiment evaluated the current situation of Ethereum, highlighting critical metrics.
Ethereum (ETH) Falls to Critical Levels
The leading cryptocurrency Bitcoin (BTC) fell to levels of $26,070 with its recent losses. The cryptocurrency market saw a further decline due to the impact of the losses in BTC. The market capitalization of most high-value cryptocurrencies has accelerated the losses since noon. The total market value of the crypto ecosystem fell to $1.05 trillion, according to CoinMarketCap (CMC) data.
Ethereum (ETH) came close to $1700 during the week, but it was rejected at around $1670 as the crypto market showed a downward trend and fell again. In the past 24 hours, ETH recorded a loss of nearly 2%, trading at around $1650.
Crypto Analytics Platform Shares Updated Data
As the decline in the cryptocurrency market and the value loss in ETH continue, the crypto analytics platform Santiment evaluated the current situation of Ethereum and drew attention to critical metrics. There has been a significant increase in addresses holding between 10 and 10,000 ETH in their portfolios. According to Santiment data, the number of addresses holding between 10 and 10,000 ETH has exceeded 335,000.
Furthermore, there has been an increase in the activity of addresses holding a significant amount of crypto assets, referred to as “whales” in the crypto ecosystem. The crypto analytics platform Santiment also reported that the number of transactions exceeding $100,000 is on the rise.
In addition, Lookonchain shared updated data on large-scale transactions performed by whales in the past week. Lookonchain reported that four different addresses added over 56,000 ETH, worth a total of approximately $94 million, to their portfolios in the last seven days.
