![Ethereum [ETH] is likely to experience some respite in the market because…](https://i.newsformal.com/images/2022/10/19/cryptoamb/ethereum-eth-is-likely-to-experience-some-respite--ethereum-eth-is-likely-to-experience-some-respite--1582492467991044097.webp)
Interestingly, it seemed that ETH whales were determined to see out the S&P correlation. This was due to renewed interest in the accumulation of large volumes of the asset.
According to Santiment, the ETH transactions valued around $100,000 and above were 414, at press time. As of 17 October, the transactions were around 209. This increase implied that whale interest in the coin was intensely high considering the almost double effect within 24 hours. However, it was not an all-around activity because the $1 million whale transaction data showed otherwise. Based on
data, the transactions in the aforementioned regard had decreased from 85 as of 17 October to 29, at press time.that the daily exchange netflow of ETH was negative. According to the on-chain analysis platform, the daily ETH exchange inflow was $170.7 million. As for the outflow, it was $212.7 million as it resulted in a $42 million deficit. This data revealed that many retail investors were selling off their ETH.
At the same time, another section was most likely sending out from exchange to non-custodial wallets for the long term. Additionally, it seemed like thetotal value reached another All-Time High . At press time, the staking deposits were
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