The Ethereum market is currently experiencing a range of strategies among its holders as uncertainty persists.
Large holders of Ethereum (those with over 100,000 ETH) have remained inactive, maintaining their positions without significant changes.
In contrast, mid-tier holders (with 10,000 to 100,000 ETH) have been gradually accumulating more ETH, signaling a cautious optimism. However, small holders (with 100 to 1,000 ETH) are selling off their positions steadily.
$ETH Holders Show Diverging Strategies Amid Market Uncertainty
Large holders (100k+) are inactive (holding steady). Mid-tier holders (10k-100k) are accumulating slowly. Small holders (100-1k) are selling steadily. – By @Darkfost_Coc
Read more 👇https://t.co/G2P5PPFqxS pic.twitter.com/R4x6vRL8Ue
— CryptoQuant.com (@cryptoquant_com) September 18, 2024
In a surprising turn, a well-known smart trader with a previously flawless 100% win rate has recently encountered a loss. The trader sold 5,690 ETH (valued at $13.1 million) at a price of $2,304 yesterday and bought back 5,660 ETH (valued at $13.1 million) at $2,316. This transaction resulted in a loss of 30.8 ETH, or approximately $71,400.
This smart trader with a 100% win rate has just completed another trade, but this time he lost money!
He sold 5,690 $ETH($13.1M) at $2,304 yesterday and bought back 5,660 $ETH($13.1M) at $2,316 just now, losing 30.8 $ETH($71.4K)!https://t.co/6j9IRgvFNM pic.twitter.com/iPEoF5fY9q
— Lookonchain (@lookonchain) September 18, 2024
This Individual Exchanges 11,584 ETH For 450 WBTC Over Last Few Hours
James Fickel (@jamesfickel) has been active in the market as well, exchanging 11,584 ETH for 450 WBTC (worth $27 million) at a rate of 0.03881 over the past 10 hours. Despite these trades, Fickel still has a significant debt of 1,308.8 WBTC (valued at $78.8 million) on Aave. Additionally, Fickel has suffered substantial losses exceeding 21,000 ETH (around $49 million) from going long on the BTC/ETH trading pair.
James Fickel(@jamesfickel) exchanged 11,584 $ETH for 450 $WBTC($27M) at 0.03881 again in the past 10 hours.
He still has 1,308.8 $WBTC($78.8M) in debt on #Aave.
Currently, he has lost over 21K $ETH($49M) by going long on the BTC/ETH trading pair!https://t.co/mCnKF8pdE5 pic.twitter.com/30Ej4g3tJw
— Lookonchain (@lookonchain) September 18, 2024
On September 17, the Ethereum spot ETF market saw a total net outflow of $15.114 million, with Grayscale’s Ethereum Trust ETF (ETHE) alone experiencing a net outflow of $17.886 million in a single day. These figures reflect ongoing volatility and investor caution in the Ethereum market.
On September 17, the total net outflow of the US Ethereum spot ETF was $15.114 million. Grayscale Ethereum Trust ETF ETHE had a net outflow of $17.8859 million in a single day. https://t.co/Tvs2oCSxTg
— Wu Blockchain (@WuBlockchain) September 18, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: Bastian Riccardi on Unsplash // Image Effects by Colorcinch
