{"id":27403,"date":"2022-11-11T15:02:29","date_gmt":"2022-11-11T09:32:29","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=27403"},"modified":"2022-11-11T15:02:29","modified_gmt":"2022-11-11T09:32:29","slug":"eth-sees-largest-buying-since-ethereum-merge","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/eth-sees-largest-buying-since-ethereum-merge\/","title":{"rendered":"ETH sees bulk buying, the largest since Ethereum merge"},"content":{"rendered":"<p>Ethereum prices are in focus again as ETH tokens witnessed bulk buying on 10 November 2022, the largest since the <a href=\"https:\/\/coinswitch.co\/switch\/crypto\/a-beginners-guide-to-ethereum-and-its-merge\/\">Ethereum merge<\/a>. On-chain analytics platform Santiment provided the details in a tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc33 As <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#crypto<\/a> attempts its recovery after this bloodbath starting 28 hours ago, we see a sizable accumulation spike from <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Ethereum<\/a> shark &amp; whale addresses. The accumulated coins of addresses holding 100 &#8211; 1M <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a> combine to be worth $783 million currently. <a href=\"https:\/\/t.co\/y62l44Flll\">https:\/\/t.co\/y62l44Flll<\/a> <a href=\"https:\/\/t.co\/K7Vwwb1MCQ\">pic.twitter.com\/K7Vwwb1MCQ<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1590435958247550976?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The news came as a breather even as the broader crypto space was trying its best to fight the FTX contagion. Santiment\u2019s data revealed that several addresses cumulatively purchased 0.54% of ETH\u2019s total current supply. All the accumulating wallets had an ETH balance between 100 ETH and 1 million ETH. The total worth of the accumulated ETH came out to be $783 million, going by yesterday\u2019s prices.<\/p>\n<p>Large ETH investors and whales added 657,390 ETH tokens to their balances even as the prices dropped amid the FTX drama.<\/p>\n<h2>The proof of the pudding<\/h2>\n<p>Backing Santiment\u2019s data were the exchange inflow values, which saw negative figures on 10 November. A tweet by analytics platform Glassnode reveals that ETH valued at $1.4 billion left exchanges, while only $1.2 billion worth of tokens flowed in. This metric shows that buyers are still more active than sellers.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcca Daily On-Chain Exchange Flow<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a><br \/>\u27a1\ufe0f  $1.8B in<br \/>\u2b05\ufe0f  $2.4B out<br \/>\ud83d\udcc9 Net flow: -$561.9M<a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a><br \/>\u27a1\ufe0f  $1.2B in<br \/>\u2b05\ufe0f  $1.4B out<br \/>\ud83d\udcc9 Net flow: -$220.6M<a href=\"https:\/\/twitter.com\/hashtag\/Tether?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Tether<\/a> (ERC20) <a href=\"https:\/\/twitter.com\/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$USDT<\/a><br \/>\u27a1\ufe0f  $1.5B in<br \/>\u2b05\ufe0f  $1.9B out<br \/>\ud83d\udcc9 Net flow: -$389.6M<a href=\"https:\/\/t.co\/dk2HbGwPL4\">https:\/\/t.co\/dk2HbGwPL4<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1590569943221010434?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 10, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Impact on Ethereum price action<\/h2>\n<p>Ethereum price action gained some steam in the last 24 hours with ETH surging 7.19% in the interim. And while the <a href=\"https:\/\/app.santiment.net\/s\/kl4UvQU7?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_eth_shark_whale_accumulation_10_week_high_b_110922\/&amp;fpr=twitter\" target=\"_blank\" rel=\"noopener\">on-chain metrics<\/a> from Santiment showcase some buying action, the price chart isn\u2019t without its own set of indicators.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-27404 size-large\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth-1024x527.png\" alt=\"Eth price action post Ethereum merge\" width=\"800\" height=\"412\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth-1024x527.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth-300x155.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth-768x396.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth-1536x791.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/11\/Eth.png 1600w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: center\"><strong>Ethereum price action post- Ethereum Merge: TradingView<\/strong><\/p>\n<p>The daily chart reveals that ETH bears have managed to guard the 0.5% Fib extension level that coincides with $1,329. Ethereum to INR value for the same is close to \u20b91,21,518. Right now, the Ethereum price in INR is trading around \u20b91,15,000. However, the Ethereum price needs to breach the 0.5% Fib level with high volumes to resume its upward momentum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum prices are in focus again as ETH tokens witnessed bulk buying on 10 November 2022, the largest since the Ethereum merge. On-chain analytics platform Santiment provided the details in a tweet. \ud83d\udc33 As #crypto attempts its recovery after this bloodbath starting 28 hours ago, we see a sizable accumulation spike from #Ethereum shark &amp; [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":27407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-27403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Sunil Paul\",\"description\":\"Sunil Mathew Paul brings the best of both worlds, combining his flair for writing with expertise in delivering niche content for the investment community.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/sunil-pcoinswitch-co\/\",\"sameAs\":[\"sunilmathewpaul\",\"https:\/\/www.linkedin.com\/in\/sunil-mathew-paul-382302a\/\"],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/98e19e7160d41179bbf77157108dfaf6?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=27403"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27403\/revisions"}],"predecessor-version":[{"id":27410,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27403\/revisions\/27410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/27407"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=27403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=27403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=27403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}