Ethereum (ETH) briefly broke through the $4,000 level and dropped to $3,930. Interestingly, just 6 hours before this price spike, two multi-signature wallets connected to the same creator wallet withdrew a total of 4,502 ETH (approximately $17.54 million) from Binance and staked it to KelpDAO. This was the first transaction for both wallets.$ETH
At the time of the withdrawal, the Ethereum price was in the $3,880-$3,900 range, but the price then rose rapidly to $4,022. The value of the staked ETH increased by 3%, creating an unrealized profit of approximately $517,000. However, at the time of writing, the ETH price has retreated to $3,930.
These transactions remain mysterious due to the lack of information on the wallet history. However, the multi-signature structure and the large amount of transactions suggest that this transaction may belong to an institution, fund, DAO or large investor. In addition, the timing of the transactions reveals the relationship between market sentiment and price movements.
Ethereum remaining near the $4,000 level is a sign of growing confidence in the market from large investors. Such large transactions are seen as a strong signal of increasing institutional interest in Ethereum.
Over the past 24 hours, Ethereum (ETH) gained 2.5% to $3,971.80. The price started at $3,836 and rose to $4,012, before a slight correction. Ethereum’s market cap reached $478 billion, while its 24-hour trading volume was recorded at $32 billion. This move shows that investor interest continues to grow and the price is testing the $4,000 resistance. The rising chart of ETH shows a positive outlook in the short term.