Large Ethereum investors are consecutively selling, drawing market attention.
On the 17th, a whale investor sold 3,000 ETH (approximately 6.7 billion won). This investor was known to have secured 76,000 ETH during the ICO. The account had been dormant for three years and showed movement for the first time. Subsequently, 6,000 ETH was transferred to a new address, with the remaining 3,000 ETH expected to be sold.
This investor is believed to have purchased when the Ethereum price was only $0.3109.
Large investors' selling has been continuously observed recently. On the 14th, another whale transferred 20,000 ETH (approximately 47 billion won) to the Kraken exchange.
The crypto market maker Wintermute recently analyzed that Bitcoin's resilience is strengthening, and if Ethereum lacks positive news, the relative strong trend will continue. As potential positive factors for Ethereum, they cited the implementation of the next upgrade 'Pectra' and approval of the spot ETF's staking element.
Fidelity's Future Outlook Analysis
Ethereum's co-founder Vitalik Buterin discussed long-term scalability possibilities in January. Through the scaling technology 'PeerDAS', the 'BLOB' capacity for large-scale data transmission is expected to increase by 2-4 times, ultimately capable of processing 128 BLOB per slot.
Fidelity's digital asset division, through a report on the 14th, analyzed that assuming a transaction size of 150 bytes, it would be possible to process 8.6 billion transactions per day. They evaluated this as a positive outlook for all Ethereum investors and users.
In this scenario, while providing low fees to users, they forecast annual fee revenues of $330 million to $3.3 billion (approximately 47 billion to 470 billion won) in the BLOB space.
However, they noted it could take years for Ethereum nodes to process this scale of data, and long-term demand increase is necessary. They also analyzed that Ethereum is focusing on network security, balancing decentralization and scalability.
Fidelity expressed concerns that other L1 chains focusing on transaction speed or low fees might delay responses to centralization or security issues. They predicted that competing chains like Solana (SOL) and Sui (SUI) will continue to secure user base and value.
They analyzed that Ethereum can improve scalability with sufficient time to respond to large-scale adoption, but risks falling behind competing projects if it takes too long. They concluded that it's necessary to observe Ethereum's strengths and potential risk factors over the coming years.
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