Ethereum [ETH] key addresses intensify accumulation as 'weak hands' continue to sell at a loss
FTX’s unexpected collapse pushed ETH’s price below its pre-merge levels as FUD overran the market. However, the cohort of ETH investors that hold between 100 to 100 million tokens remained resilient.
Typically, investors send their assets to exchanges to sell them, and this would usually grow such an asset’s exchange reserve. Therefore, a decline in an asset’s exchange reserve indicates that fewer sell-offs have taken place.Source: Santiment Hence, the decision to send them to self-custody and to trade them on decentralized exchanges. Some have also held on to them to realize profit once the price picks up later., an assessment of ETH’s Network Profit/Loss when FTX collapsed showed a huge fall in the metric on 9 November. This indicated that many investors, in an attempt to save their investments, sold at significant losses, a classic case of the short-term capitulation of “weak hands.
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