By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: This Data Shows Ethereum Whales Are Manipulating ETH Prices, Is That True?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > This Data Shows Ethereum Whales Are Manipulating ETH Prices, Is That True?
crypto

This Data Shows Ethereum Whales Are Manipulating ETH Prices, Is That True?

admin Published October 8, 2022
Last updated: 2022/10/08 at 11:29 AM
Share
SHARE

[ad_1]

The Ethereum whale investors have maintained an influence on ETH price. This is because they use their holdings to create their desired trend in the ETH market. But their impact is raising more brows as per the data from CryptoQuant.

Contents
Ethereum Whales Moved Tokens To Exchanges To Hike PriceCrypto Market And Price Manipulations

In the crypto space, the whales are persons or entities with higher investment holding of a particular asset. Holding a significant amount of cryptocurrency makes it easy for whales to manipulate and influence the crypto price.

Over time, the perception has always been that the whales project negative influences on the market. This is because they always take the upper hand in the uncontrolled market to exert a manipulation pattern on prices. The intention is not to bring instability to the market but to ensure their interests and gains.

The on-chain data provider noted ETH whales have engaged in price manipulations for the second largest crypto assets through their exchange activity.

The analytics firm posted a Quick Take on the Ethereum price pattern. An analyst acknowledged suspicious moves with the whales’ activity on exchanges between 2020 and 2021.

Ethereum Whales Moved Tokens To Exchanges To Hike Price

According to the post, the Ethereum whales deposited most of their ETH holdings on exchanges. They created a situation that spiked the token’s price and sold the deposits using the hiked prices.

Data indicates that ETH’s price surged quickly amid an increase in Ether’s balances on exchanges. However, the analyst noted that this sequence contradicts the average market norm for Ethereum. The usual trend is that when exchange inflows increase, the prices of Ethereum and other assets will plunge.

Hence the post mentioned that the Ethereum whales raised the price of Ether after depositing the token into exchanges. They later sold off the deposited coins from the exchanges at a higher price.

Also, the price of ETH surged just as the average exchange inflows increased between 2020 and 2021. It added that when there’s a rise in exchange inflow, it signifies a short-term high and long-term low.

Crypto Market And Price Manipulations

The crypto market has faced several price manipulations. Such activity and allegations are no longer new in the crypto space. The co-founder of Ethereum, Vitalik Buterin, aided his view on such a trend during a recent interview with the New York Times.

Buterin stated that Terra’s team tried using market manipulation for hiking LUNA’s value. But it seemed it failed as the Terra ecosystem came crumbling without notifications.

In the case of Ethereum, data from CryptoQuant indicated that the whales started a massive deposit of their holdings on exchanges after the Merge. The action created selling pressure on Ether and brought a drop in its price, causing the token to hit its July levels.

Subsequently, the price later rose again. At the press time, ETH is trading at around $1,329, indicating a loss on the chart.

ETH falls below $1,350 on the chart l ETHUSDT on Tradingview.com
Featured image from Pixabay, a chart from TradingView.com

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin October 8, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Dogecoin Tanks After Gaining Momentum, Will It Mark New Gains?
Next Article Ripple (XRP) Shows Itself As Crypto Powerhouse; Will Price Reach $1?

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?