Quant Explains How Whales Moved Before And After Ethereum Merge

Name	Symbol	Market	Market Cap ($)	Algorithm
Quant	QNTUSD	Crypto	1,583,133,575	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Quant

QNTUSD

Crypto

1,583,133,575

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.540	-0.49%	108.74	108.68	108.75

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.540

-0.49%

108.74

108.68

108.75

High Price	Low Price	Open Price	Prev. Close	52 Week Range
117.41	107.42	109.52	109.28	83.10 - 153.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

117.41

107.42

109.52

109.28

83.10 - 153.83

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:43:42	4.55	108.74	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:43:42

4.55

108.74

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,081,860.07	18,645.80	QNT	QNTEUR	QNTGBP	QNTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,081,860.07

18,645.80

Quant Explains How Whales Moved Before And After Ethereum Merge

17/09/2022 8:00pm

NEWSBTC

A quant has explained how the movement of whales differed between before and after the Ethereum merge went live. Ethereum Funding Rates Reached An All-Time Low Just Before The Merge As pointed out by an analyst in a CryptoQuant post, a lot of ETH investors bet on the price going down around the merge’s completion. The relevant indicator here is the “funding rate,” which measures the periodic fee that perpetual futures contract traders exchange between each other. When the value of this metric is positive, it means long investors are paying a premium to the short holders right now to hold onto their positions. Such a trend shows a bullish sentiment is more dominant in the market currently. Related Reading: Bitcoin Whale Selling Pressure Continues As BTC Dips Under $20k On the other hand, negative values of the indicator suggest shorts are overwhelming the longs at the moment as the majority are feeling bearish. Now, here is a chart that shows the trend in the Ethereum funding rates over the last few days: Looks like the metric had a deep red value not too long ago | Source: CryptoQuant As you can see in the above graph, the Ethereum funding rates had been going down only a couple of days back, and reached a new negative peak right as the merge arrived. The quant explains that this was because investors thought the PoS transition hype had already impacted the market, and so they bet on short positions, believing that the price would go down during the aftermath of the much anticipated event. Related Reading: Uniglo (GLO) Beats Luna Classic (LUNC), Dogechain (DC), And Ethereum Classic (ETC) With Massive Price Surge But just following the merge, the price actually rather saw a slight improvement. Seeing that the decline they had waited for didn’t come, these short holders quickly started closing up their positions, leading to the funding rates sharply moving up. Right as this happened, the whales who had been waiting jumped in and dumped their ETH, causing the price to plunge down hard. The analyst notes that this is a display of whales trying to make a move in such a way that nets them the largest gains. “To read those moves, we need to utilize both on-chain data and charts,” says the quant. ETH Price At the time of writing, Ethereum’s price floats around $1.4k, down 7% in the last seven days. Over the past month, the crypto has lost 24% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have been going down during the last few days | Source: ETHUSD on TradingView Ethereum has been trending down since the merge took place, and right now it’s unclear when the crypto may show some reversal. Featured image from Thomas Lipke on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

QNTUSD Quant