A crypto analyst says deep-pocketed investors are snapping up the top layer-1 platform Ethereum (ETH) amid the marketwide digital asset correction.
Trader Ali Martinez tells his 132,900 followers on the social media platform X that whales gobbled up more than $815.514 million worth of ETH in less than a week.
“Whales have bought more than 420,000 Ethereum ETH in [five days]!”
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Source: Ali Martinez/X
Martinez is also keeping a close watch on Ethereum’s In/Out of the Money Around Price (IOMAP) metric – which classifies crypto addresses as either profiting, breaking even, or losing money – to determine support and resistance levels for ETH.
According to Martinez, ETH is currently trading in a narrow range between stiff support and resistance zones.
“Ethereum ETH key levels to
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