The ICO participant’s deposit may lead to increased selling pressure in the Ethereum market. This increased selling activity could affect supply-demand dynamics and potentially lead to ETH’s downward price movements in the short term.Despite the FUD caused by the whale’s deposits, retail investors have continued to show faith in Ethereum. According to Glassnode, the number of non-zero addresses has recently reached an all-time high of 102,913,926.
Additionally, the high Long/Short difference of Ethereum implied that the number of long-term addresses outnumbered the short-term holders. These addresses are less likely to sell their ETH.
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