Data: ETH Whale Address Accumulates 2.5 Million ETH in February, $2,000 Level Gathers Over $2 Billion in Short Positions
BlockBeats News, February 25th, CryptoQuant data shows that the average size of whale sell orders on Binance has dropped from around 2,250 ETH in early January to around 1,350 ETH recently. With an estimated 15 to 35 whale-level trades per day, the cumulative sell-off volume since January 8th is about 1.8 million to 2 million ETH. Calculated at an average price of $2,400, this corresponds to a large-scale transaction volume of about $4.3 billion to $4.8 billion.
Analyst Darkfost stated that the decrease in the average order size indicates that "large participants are gradually exiting," while small-scale traders continue to maintain stable trading volumes, and big players are reducing direct interaction with the order book. This shift has temporarily weakened market depth, reducing ETH's ability to cope with short-term price imbalances.
At the same time, during a 20% price drop in February, ETH accumulation addresses increased their holdings by over 2.5 million ETH, with total holdings rising from 22 million ETH at the beginning of the year to 26.7 million ETH, demonstrating stable demand beneath the surface.
Derivatives market liquidation data shows that there is over $2 billion in short positions near $2,000, forming a dense liquidity area that may serve as a short-term attraction zone for ETH prices. If ETH falls below $1,600, about $682 million in long positions will face risks.
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