The support zone around $4000 did not work, and Ether (ETH) continues to retreat.
On Monday, December 20, the altcoin price fell to $ 3,807, but analysts note that the attractiveness of ETH is not only not weakening, but on the contrary, is increasing.
Large investors have been buying Ethereum during every drop since mid-autumn. In about three months, the whales controlling between 100,000 and 10 million ETH bought about 1.41 million coins worth up to $ 5.58 billion, according to the Santiment report.
Data from the IntoTheBlock platform also speaks of the increased attractiveness of ether as an asset.
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Investors are willing to pay high fees to send cryptocurrency to the correct address. The number of funds spent in the form of transaction fees increased more than 10-fold from $ 430 million in the fourth quarter of last year to $ 4.8 billion in the same period this year, analysts said.
In 2021, the volume of transactions with stablecoins paired with ether rose to record levels. Almost all categories of investors are engaged in the accumulation of altcoins.
As of December 20, the number of non-zero Ethereum addresses exceeded 70.597 million, a new record in ETH history.