Ethereum Price Goes Bullish
Ethereum's price jumps 2% as a major transaction involving 1,600 ETH worth $6.2 million was reported, alongside a second transfer of $740,000 worth of ETH.
Ethereum's price increased to $3,754.99, with a 1.56% rise in the last 24 hours and a 19.50% increase over the past week.
Significant whale activity and the crypto bull market have fueled speculations about ETH's continued upward trajectory and market manipulation as reported by Onchaindata. A whale withdrew 1,600 ETH, worth approximately $6.2 million, from Bybit and Cooper accounts. This notable movement was complemented by a second transaction involving $740,000 worth of ETH.
ETH Whale Accumulation Driving Price Action.
In the last few hours, there has been notable activity by Fasanara Capital, an investment fund based in England. The fund executed a massive transaction, transferring 1,600 ETH valued at over $6.2 million from Bybit and Cooper. Following this transaction, Fasanara Capital retains 5,383 ETH, worth approximately $20.16 million, in their wallets. Another significant movement involved an address associated with the Ethereum Foundation, 0x9d2…C43B1, which transferred 200 ETH to Kraken, worth $740,000.
This address was reactivated for the first time since April 28 after being dormant for six years, having initially received 2000 ETH from the Ethereum Foundation in 2015. Currently, it holds 1,029 ETH. These transactions have fueled speculation among ETH holders about the potential influence of whales on the recent price surge. The broader cryptocurrency bull market and the buzz surrounding Ethereum ETF approval have also contributed to the rally, pushing ETH above $3,700.
Ethereum’s 24-hour trading volume stands at $13.9 billion, with a circulating supply of 120 million ETH, resulting in a market capitalization of $451 billion.
Let's keep our eyes glued to the market and see as it unfolds. Bull or Bear, ensure to take your profit at the appropriate time.
