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On-chain data suggests the Ethereum whales have shown a burst of activity recently. Here’s what these titans have been up to. Ethereum Whale Transactions Are At Their Highest Since March In a new post on X, the market intelligence platform IntoTheBlock has discussed how the ETH whales have become active recently. The on-chain metric of interest here is the “Number of Large Transactions,” which, according to the analytics firm, tracks the total number of Ethereum transactions on the network valued at more than $100,000. Related Reading: Crypto Analyst Reveals Trigger For 17% Polygon (MATIC) Rally Generally, only whale entities can make such large single transaction movements, so such large transfers are associated with these humongous investors. As such, the Number of Large Transactions indicator can tell us whether this cohort is active right now. The chart below shows the recent trend in this Ethereum metric. The graph shows that the Number of large transactions for Ethereum has sharply increased recently. This suggests that the whales have ramped up their activity. The whales have come alive as news surfaced that the ETH spot exchange-traded funds (ETFs) could have improved their approval odds. The hype in the market has meant that ETH has enjoyed a rapid increase, taking its price back around the $3,800 level. With all this happening in the market, it’s only natural that these humongous entities would be repositioning themselves. As the scale of this cohort’s transactions is quite big, a large number of them taking place together can be powerful enough to cause ripples in the market. Thus, ETH could likely witness volatility shortly if the current high whale activity persists. However, the direction this volatility might take on Ethereum depends on whether these investors collectively buy or sell. IntoTheBlock data has also provided hints about this, as the below chart for the “Large Holders Netflow” shows. This indicator measures the net amount of Ethereum moving into or out of the wallets of “Large Holders.” The analytics firm defines Large Holders as those who own at least 0.1% of the entire circulating asset supply. Related Reading: Analyst Says $71,000 Bitcoin Move Is Only Halfway Through, Here’s Why The graph shows that the Large Holders have been participating in accumulation recently, as the netflow has been positive for them. Thus, it appears that the recent activity from the whales has involved net-buying. It remains to be seen if these humongous entities will continue to display this trend in the coming days, potentially helping fuel the rally. ETH Price At the time of writing, Ethereum is floating around $3,750, up more than 26% over the past week. Featured image from Gabriel Dizzi on Unsplash.com, IntoTheBlock.com, chart from TradingView.com

Ethereum Whales Come Alive: Are They Buying Or Selling?

Ali Martinez expects a 17% price increase for MATIC. MATIC's price is consolidating within a parallel channel pattern. Continue Reading: Analyst Predicts MATIC Price Increase If It Breaks Parallel Channel

Analyst Predicts MATIC Price Increase If It Breaks Parallel Channel

MATIC’s negative MVRV ratio presents a good opportunity for traders looking to “buy the dip.”

Can Polygon [MATIC] climb 17% soon? Taking a closer look

An analyst has explained how Polygon could see a rally of around 17% if the cryptocurrency’s price breaks above this level. Parallel Channel May Reveal What Could Be Next For Polygon In a post on X, analyst Ali has discussed about a parallel channel that Polygon has been consolidating inside during the last few weeks. The “parallel channel” here refers to a technical analysis (TA) pattern that’s drawn using two parallel trendlines. This pattern’s upper line joins successive tops in the asset while the lower one connects bottoms. While the price is inside the region bounded by these two lines (the “channel”), it’s probable to stay trapped in it, only consolidating sideways. Related Reading: Analyst Says $71,000 Bitcoin Move Is Only Halfway Through, Here’s Why Naturally, retests of the upper line can likely result in reversals back to the downside, while the lower one may act as a source of support, helping the coin bottom out and regain an uptrend. There are different types of parallel channels in TA, like the ascending and descending ones, where the channel is slopped upwards or downwards. In the context of the current topic, though, a parallel channel parallel to the time axis is of interest. This means consolidation inside this channel occurs between the same top and bottom levels. Like with other consolidation patterns in TA, a break out of the trendlines of the parallel channel can also suggest a continuation of the trend in that direction. More specifically, a surge above the pattern can suggest bullish momentum for the asset, while a drop under the channel may spell a bearish outcome instead. Now, here is a chart that shows how the parallel channel that Polygon has been consolidating inside has looked like over the past month: From the above graph, it’s visible that Polygon has been stuck in consolidation inside this parallel channel since the cryptocurrency crash last month. The asset has made some attempts at the upper level, but so far, all of them have failed, with the coin unable to find any break. MATIC is currently floating near the level, so another retest may be coming up soon. Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News If the Polygon price surges above the channel this time, it may enjoy some sustained bullish momentum. “A breakout above $0.76 could trigger a 17% surge, pushing $MATIC to $0.88!” notes Ali. This price target is based on the fact that the crash last month, which threw the asset into this consolidation, occurred starting from around that level. Given this potential retest of the upper line of the channel, it now remains to be seen how the cryptocurrency performs in the coming days. MATIC Price Polygon almost touched the $0.76 upper level of the channel yesterday, but the coin has since observed a pullback, and it’s now back down to $0.72. Featured image from Shutterstock.com, charts from TradingView.com

Crypto Analyst Reveals Trigger For 17% Polygon (MATIC) Rally

Witness Chain has announced plans to develop the DePIN Coordination Layer (DCL) with the help of the Polygon CDK (Chain Development Kit). There are multiple functions that the DCL is intended to fulfill. To start with, it opens the door for the development of composite DePIN DApps, which combine DeFi and DePIN to provide fresh …

Witness Chain uses Polygon CDK for DePIN coordination layer development

Polygon Price Analysis: MATIC, the native cryptocurrency of polygon blockchain witnessed a renewed demand pressure since mid-May showcasing a V-shaped reversal from $0.643. This recovery uplifted the asset value by 11.8% to currently trade at $0.718. The bullish momentum in the crypto market is accelerated by the market excitement towards potential approval of Spot ETH The post Polygon Price Analysis Points 24% Surge Amid Key Resistance Breakout appeared first on CoinGape .

Polygon Price Analysis Points 24% Surge Amid Key Resistance Breakout

With the current crypto market showcasing a sign of a surge among certain coins, crypto holders eagerly wait for that one coin that will offer a massive return potential on their investment. This comes at a time when both Polygon (MATIC) and Tron (TRX) holders are keenly eyeing a new altcoin that seems to be doing quite well within the altcoin market.

Polygon (MATIC) and Tron (TRX) Holders Pivot To Rollblock (RBLK) Betting On Its Massive Potential For Gains

Polygon, the Ethereum scaling solution aiming to solve the network’s scalability woes, has blasted past a monumental milestone: 4 billion total transactions. This achievement is particularly impressive considering the network launched just four years ago in June 2020. Bitcoin, for comparison, took a staggering 15 years to reach 1 billion transactions, highlighting the breakneck speed

Breakneck Growth: Polygon (MATIC) Surpasses 4 Billion Transactions

Demand Soars On Algotech Presale As Toncoin And Polygon Investors Look To Buy In On The Massive Profit Prospects The post Demand Soars On Algotech Presale As Toncoin And Polygon Investors Look To Buy In On The Massive Profit Prospects appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing .

Demand Soars On Algotech Presale As Toncoin And Polygon Investors Look To Buy In On The Massive Profit Prospects

Polygon (MATIC) has hit a new milestone for total transactions. The recent feat suggests that the network is seeing rapid adoption. The rise in activity comes despite largely uninteresting MATIC The post Polygon (MATIC) Hits 4B Transactions Milestone As Usage Spikes appeared first on BitcoinWorld .

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