Ether whale population drops after Shapella — Will ETH price sink too?

The share of Ether held by so-called whale addresses has actually dropped given that Ethereums Shapella upgrade in mid April, recommending that large financiers might be leaning bearish in the near term.ETH whale population shrinks post-ShapellaThe amount of Ether (ETH) held by addresses with 1,000-10,000 ETH, or “whales,” was over 14.033 million ETH on May 1, according to Glassnode information.”Interestingly, other address friends also showed a decline, consisting of sharks (100-1,000 ETH), fishes (10-100 ETH), crabs (1-10 ETH) and even mega-whales (10,000+ ETH). Just shrimps (<< 1 ETH) built up throughout the period, with their net position slightly increasing from 1.79 million ETH on April 12 to 1.80 million ETH on May 1. Source: TradingViewShapella allowed investors to withdraw ETH locked by means of staking, which some argued would increase selling pressure.Since the Shapella upgrade, financiers have withdrawn over 1.97 million ETH worth around $3.6 billion, according to Beaconcha.in.

The share of Ether held by so-called whale addresses has dropped given that Ethereums Shapella upgrade in mid April, suggesting that large investors might be leaning bearish in the near term.ETH whale population diminishes post-ShapellaThe amount of Ether (ETH) held by addresses with 1,000-10,000 ETH, or "whales," was over 14.033 million ETH on May 1, according to Glassnode data."Interestingly, other address accomplices likewise revealed a decline, including sharks (100-1,000 ETH), fishes (10-100 ETH), crabs (1-10 ETH) and even mega-whales (10,000+ ETH). Just shrimps (<< 1 ETH) collected during the period, with their net position a little increasing from 1.79 million ETH on April 12 to 1.80 million ETH on May 1.