Surprising Ethereum Long-Term Indicator for Price Emerges as ETH Dips

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In recent weeks, Ethereum's blockchain has witnessed a surge in whale transactions, which are large transfers of ETH carried out by entities holding significant amounts of the cryptocurrency and are often greater than $100,000. The rising number of whale transactions on Ethereum's blockchain is being viewed by some analysts as an indicator of the cryptocurrency's long-term price trends., despite the Ethereum price correction seen over the past few weeks, ETH whale transactions are on the rise, which is a bullish indicator for future ETH price movements.

On March 27, there was an uptick in the number of missing blocks. Every 30 minutes, 2% to 4% of blocks are typically missed on Ethereum. However, during a period when the network was experiencing a high volume of blob transactions, this percentage increased to more than 14% in just a few hours. Blob prices climbed by more than tenfold during this period.

In separate news, ETH developers have approved the inclusion of two retroactive Ethereum improvement proposals in the upcoming Prague/Electra upgrade: EIP 7610 and 7523.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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