Ethereum dominance previously led the charge, especially in July and August, as altcoin season kicked in. While it cools down, where is Ethereum (ETH)
Aggressive demand from the whale cohort fortified ETHs bullish resolve. This may explain why the latest bearish episodes were limited and characterized by accumulation and bullish recovery.
In other words, whales have been treading the pullbacks as opportunities to acquire more ETH at discounted prices.
As far as network performance was concerned, it was business as usual for Ethereum. Weekly net inflows into the network last week amounted to $2.5 billion.
This was higher compared to the previous 2 weeks, during which the markets experienced some uncertainty and a noteworthy
Ethereum price
pullback.Disclaimer:
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