CryptoMe
๐ฅETH Is Now Cheaper Than What Diamond-Hand Whales Paid! Read That Again
Ethereum is now at 2880 dollars. It means that ETH IS AT THE AVERAGE COST OF ACCUMULATING WHALES (as you see in the picture below) The metric in the picture shows this group of wallets: ๐ขLast bought more than 100 ETH in one transaction (so they are whales). ๐ขHave bought ETH at least 2+ times. ๐ขHave never sold any ETH in their life (Diamond Hands, Never Sold). ๐ขWallet balance is more than 100 ETH (yes, whales). ๐ขNot centralized exchange addresses. The metric filters only these wallets and shows their AVERAGE COST, using a Realized Price style approach. โ ๏ธThis metric does not promise the investor: "This is the bottom, price cannot go lower." โ Price can still go much lower than this level. โ ๏ธThis metric also does not promise: "If price goes under this level, it will quickly go back up." โ It does not mean that price will go up tomorrow. But in one common On-Chain definition, if price is under the Realized Price, it means that this coin is cheap compared to the market average. And right now, the price of ETH has reached the level that this metric shows. In that case, an investor can buy slowly, gradually, in steps, calmly, and always remember: this is a long-term plan, not a short-term trade. โ ๏ธIf your base scenario is: "A VERY LONG, MULTI YEARS BEAR MARKET HAS STARTED", then you should probably NOT BUY. Follow your base scenario please. โ But if your main view is: "After some time the bull market will continue, this drop is only a correction", then this level is an interesting area to watch.