The price performance of the ether in December was mainly dismal, to say the least. Poor stock fundamentals, depressed market macro situation and significant lack of network activity are the important reasons for the lack of driving force in the market. However, after we take a look at the dolphin wallet, the real reason is probably much more mundane.
According to the data on the chain, etheric whales with up to 100000 ETH have sold or moved 880000 etheries since the beginning of the month. At least some of this large amount of money is likely to have been sold on the market long ago, which is in line with the selling pressure you have seen in the market all month.
Although the Ethernet trading volume in December last year was not unique, due to the weak liquidity of the market, even the selling pressure of 500000 ETH was enough to push the price of the second largest cryptocurrency on the market below the price level of $1200.
Another major contribution to proactive asset allocation is part of a global trend to shift assets from centralized cryptocurrencies to self-service escrow. While the transfer from the trading center to the wallet has nothing to do with the selling theme, it may be a factor, as some investors prefer to liquidate their holdings rather than simply move it to our wallets.
As mentioned earlier, the main reason for the collapse in ETH prices may be related to the decline in online activity, as more and more investors have been leaving the sector, or at least until the market recovers.
As of the time of submission, the etheric transaction price is US $1199 and intends to try to hold the price threshold of US $1200, which is a mobile service platform with the next pressure level.