The upcoming Ethereum merge is one of the most widely discussed topics in the crypto sector and analysts have a wide range of perspectives on how the transition to proof of stake could impact Ether’s price.
Whales accumulate ahead of the merge
A deeper dive into the ongoing accumulation of Ether by whale wallets was provided by cryptocurrency intelligence firm Jarvis Labs, which posted the following chart looking at the percentage change in whale wallet holdings versus ET price.
The color of the dots relates to the price of Ether, with the chart showing that whale wallets began decreasing their holdings when the price was above $4,000 and they didn’t start to reaccumulate until after the price dropped below $2,300.
Jarvis Labs said,
“Whales are continuing to accumulate Ether, their accumulation remains in sideways-to-uptrend.”
And it’s not just the whales who are looking to scoop up Ether on the dip as shown in the following chart where red dots indicate that both whale wallets and smaller wallets have seen an increase in accumulation.
Analysts at Jarvis Labs said,
“Looking at just the Ether wallets distributions, it can be inferred that Whales UP + Fishes UP (Both whales and Fishes seem to be accumulating). Merge narrative?”
Is an Ethereum decoupling on the horizon?
Analysts at Delphi Digital contemplated whether Ethereum price could decouple from BTC leading into or after the merge. The analysts also predict that the altcoin is “likely to see…