The daily Ethereum (ETH) whale transactions have recorded a notable decline over the past day while the asset’s price surged.

ETH is up by 4.4% in the past 24 hours and is trading at $3,350 at the time of writing. The second-largest cryptocurrency has registered an impressive recovery of 13% over the past week as the broader crypto market rebounds.

Ethereum currently has a market cap of $400 billion with a daily trading volume of $12.7 billion.

You might also like: Lazarus Group allegedly moves stolen funds from $308m DMM Bitcoin hack

According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of ETH decreased by 56% over the past 24 hours — dropping from 11,115 to 4,827 unique transactions per day.

The declining whale …