Ethereum holders increased their investments in cryptocurrency by $13,3 billion
Crypto investors have bought more than 4 million ETH over the past few weeks
28.03.2022 - 13:05
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What’s new? Long-term Ethereum holders have increased their investments in the cryptocurrency by $13,3 billion over the past few weeks, according to IntoTheBlock. The addresses that have owned Ethereum for more than a year have bought more than 4 million ETH. The analysts believe the accumulation of altcoin is associated with a decline in its price in early 2022.
What preceded it? On March 18, a record outflow of Ethereum cryptocurrency from centralized exchanges since the beginning of 2022 was recorded, the research firm IntoTheBlock reported on Twitter. A total of more than 180 000 ETH was withdrawn.
What else does the IntoTheBlock report say? Terra (LUNA), a smart contracts platform, falls into the category of organizations owning between 1000 and 10 000 BTC, the analytical company notes. The analysts came to this conclusion given Terra’s recent buying activity. The fund behind the platform accumulates $125 million a day.
On March 28, it became known that Luna Foundation Guard bought $1 billion worth of bitcoins as part of increasing the stability of the algorithmic stablecoin UST.
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