Large Buy Orders Flood Ethereum Amid Market Volatility
The past 24 hours have seen significant movement in major cryptocurrencies, particularly in Ethereum (ETH) and Bitcoin (BTC). According to data from Bitget, total transactions for ETH reached 1.843 billion USD, with 1.067 billion USD in buy transactions and 776 million USD in sell transactions. This resulted in a net difference of 292 million USD.
On the other hand, Bitcoin (BTC) saw total transactions reach 1.267 billion USD, including 732 million USD in buy transactions and 535 million USD in sell transactions, with a transaction difference of 197 million USD. Net pending orders for BTC stand at 1.333 billion USD, while net pending orders for ETH are at 1.53 billion USD.
The data suggests that main holders are positioning themselves at key price levels, with more large limit buy orders being placed for ETH than sell orders. This indicates active buying support below the current price of ETH.