This Data Shows Ethereum Whales Are Manipulating ETH Prices, Is That True?

The Ethereum whale investors have maintained an influence on ETH price. This is because they use their holdings to create their desired trend in the ETH market. But their impact is raising more brows as per the data from CryptoQuant. In the crypto space, the whales are persons or entities with higher investment holding of a particular asset. Holding a significant amount of cryptocurrency makes it easy for whales to manipulate and influence the crypto price. Over time, the perception has always been that the whales project negative influences on the market. This is because they always take the upper hand in the uncontrolled market to exert a manipulation pattern on prices. The intention is not to bring instability to the market but to ensure their interests and gains. Related Reading: Wash Trading Dominates Bitcoin Volume, What Does This Mean For Price? The on-chain data provider noted ETH whales have engaged in price manipulations for the second largest crypto assets through their exchange activity. The analytics firm posted a Quick Take on the Ethereum price pattern. An analyst acknowledged suspicious moves with the whales’ activity on exchanges between 2020 and 2021. Ethereum Whales Moved Tokens To Exchanges To Hike Price According to the post, the Ethereum whales deposited most of their ETH holdings on exchanges. They created a situation that spiked the token’s price and sold the deposits using the hiked prices....