Ethereum Whales Begin to Disappear - What Does This Mean for ETH?

Ethereum whales holding more than 10,000 ETH are down more than 7% since July.
62% of Ethereum holders are in profit as net inflows are primed for a possible increase.

Ethereum [ETH] The number of whales holding more than 10,000 ETH since July has shown a clear downward trend.

This drop, of more than 7%, is rather significant, considering that large holders act to determine market direction.

A sharp decline in whale engagement indicates a change in sentiment and strategy for high-net-worth investors.

This is indeed a shift worth keeping track of, especially for those keeping an eye on the king of altcoin's long-term market outlook.

Ethereum Whales Begin to Disappear – What Does This Mean for ETH?

Source: X

Most of the Ethereum holders are still in profit

Despite the decline in whaling activity, 62% of Ethereum holders are still in profit.

This may suggest that despite some recent volatility in the past months, the market is still somewhat friendly to most investors.

Profitable holders are generally more likely to hold onto their assets and avoid sudden sell-offs, which can provide a form of stability to the market.

Source: IntoTheBlock

Rising net flows signal increased market activity

Ethereum also saw a series of spikes in net inflows, indicating increasing demand and activity on the network. Inflow, after yesterday's dip, looks set to pick up again.

Such movements are usually preceded by a strong price action, as higher flows can ensure increased buying pressure.

Source: CryptoQuant

The battle between the bull and the bear

AMBCrypto further analyzed Coinglass's long/short ratio to gauge market direction. The data reveals an array of fluctuations between short and long positions.

As of this writing, the ratio stands at 1.01, indicating that long positions have begun to dominate the market.