Quant Explains How Whales Moved Before And After Ethereum Merge
Looks like the metric had a deep red value not too long ago | Source: cryptoquant As you can see in the above graph, the Ethereum funding rates had been going down only a couple of days back, and reached a new negative peak right as the merge arrived. The quant explains that this was because investors thought the PoS transition hype had already impacted the market, and so they bet on short positions, believing that the price would go down during the aftermath of the much anticipated event. But just following the merge, the price actually rather saw a slight improvement. Seeing that the decline they had waited for didnt come, these short holders quickly started closing up their positions, leading to the funding rates sharply moving up. Right as this happened, the whales who had been waiting jumped in and dumped their ETH, causing the price to plunge down hard. The analyst notes that this is a display of whales trying to make a move in such a way that nets them the largest gains. “To read those moves, we need to utilize both on-chain data and charts,” says the quant. Presyo ng ETH Sa panahon ng pagsulat, Ang presyo ng Ethereum lumulutang sa