Ethereum mid-to-large holders return to net buying…Signs of restored market confidence
Suehyeon Lee
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- Santiment said Ethereum (ETH) mid-to-large holders have recently returned to buying.
- These holders, after large sales between October 5 and 16, were reported to have repurchased about one-sixth of that amount last week.
- They analyzed the major holders' switch to net buying as a positive sign of market confidence recovery and of maintaining the No. 2 market cap position.
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Ethereum (ETH) mid-to-large holders (wallets holding 100~10,000 ETH) have recently returned to buying.
On the 25th (local time), on-chain analytics firm Santiment said wallets holding 100~10,000 ETH sold a total of 1.36 million ETH between October 5 and 16, but last week repurchased about one-sixth of that amount.
The fact that Ethereum's major holder group has switched to net buying is interpreted as a sign that market confidence is recovering. Santiment said, "a positive sign that Ethereum is showing a steady recovery while holding onto its No. 2 market cap position."
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