• Large transactions for Bitcoin and Ethereum increased by 80% and 170%, respectively.
• BTC and ETH have maintained their new price ranges despite declines.

The current upward trend of the crypto market has drawn the interest of large investors and institutions. As per a report from IntoTheBlock, there has been a significant rise in the volume of Bitcoin [BTC] and Ethereum [ETH] transactions exceeding $100,000.

Institutional and whale demand has picked up strongly, with Bitcoin seeing an 80% increase in the volume of transactions of over $100k, Ethereum 170%, and Polygon over 3,800% compared to 30 days ago. pic.twitter.com/ElM1CDZ3wA

— IntoTheBlock (@intotheblock) November 11, 2023

The data presented in the tweet above indicated an 80% increase for BTC and a 170% increase for ETH. This suggested a rise in demand from institutional and large-scale investors as the prices of BTC and ETH climbed.

The increased interest from these groups boosted transaction volume. Also, it held the potential to further influence the trend of prices.

An analysis of Bitcoin and Ethereum’s large transactions

AMBCrypto took a closer look at the Whale Transaction Counts for Bitcoin and Ethereum, which revealed increased activity for both coins. In the case of Ethereum, the chart for November showed consistent spikes in transactions, going over 1,900 on the 9th of November.

This metric rose to 1,400 on the 10th of November, a number last seen in August. As of

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Author: Adewale Olarinde

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