- ETH has remained in the $3,200 price range.
- Its RSI showed it was in a bear trend.
Ethereum [ETH] has experienced some price declines recently. However, during this period, there was a noticeable increase in the volume of large transactions.
Data analysis revealed whether this surge in transaction volume was primarily oriented toward buying or selling.
Ethereum sees large transactions
Recently, Ethereum’s large transaction volume reached a monthly peak, exceeding $11.8 billion, according to data from IntoTheBlock.
This spike set the highest level for the month and marked the most significant activity in over two months, the last occurrence being around May.
Currently, the volume has decreased to approximately $3.5 billion. This surge in large transactions coincided with the approval of Ethereum-based Exchange Traded Funds (ETFs).
The approval likely spurred increased activity as institutional investors engaged in…
