Ethereum Bulls on the Rise: Whale Accumulates $48.5M, Metrics Look Bullish

• A Twitter handle by the name Technical Crypto Analyst revealed that 60% of all staked ETH was locked on-chain around the current ETH price or even higher.
• Whale „0xB79c“ accumulated 28,672 ETH, worth $48.5 million, from Binance and Coinbase over the past two months.
• Ethereum made it to the list of the top 15 cryptos in terms of the Galaxy Score, which was an optimistic sign for the token holders.

Bullish Ethereum Updates

A Twitter handle by the name Technical Crypto Analyst revealed an update that was in investors‘ favor. Reportedly, 60% of all staked ETH was locked on-chain around the current ETH price or even higher. The crypto community’s response to it was bullish as some expected that this would reduce a sell-off after Ethereum’s Shanghai upgrade, thus giving rise to a potential price uptick.

Whale Accumulation

Lookonchain’s data showed increased ETH accumulation with whale „0xB79c“ accumulating 28,672 ETH, worth $48.5 million from Binance and Coinbase over the past two months. This development suggested that whales were expecting further price pumps for Ethereum. Furthermore, whale and shark addresses with 100,000 ETH still hold close to 47% of total Ether supply while exchange outflow had spiked lately as well as top address holdings increasing – indicating confidence in Ethereum amongst whales.

Encouraging Metrics

Santiment’s chart indicated decreased supply on exchanges over last month while LunarCrush’s data revealed Ethereum making it into list of top 15 cryptos according to their Galaxy Score – both suggesting positive metrics for Ethereum investors and token holders alike.

Ethereum’s Shanghai Upgrade

Ethereum’s much awaited Shanghai upgrade is around the corner and investors are excited because it will finally allow them to withdraw their staked Ethers. With bullish metrics surrounding accumulation and encouraging data from Santiment and LunarCrush as well as promising news from Technical Crypto Analyst – investors are feeling confident about upcoming upgrade leading to potential profits ahead!

Conclusion

The recent bullish updates regarding Ethereum have caused excitement amongst its investors who are hoping for a successful Shanghai upgrade leading to further profits for them! Whale accumulation along with other encouraging metrics suggest that there could be more upside potential in store for Ether in upcoming days!