Ethereum (ETH) has surpassed the $2,600 level with its recent rise. Although there are generally positive signals in the market, large investors, namely whales, sold approximately $45 million worth of ETH on Saturday.
According to Lookonchain data, a wallet address linked to Cumberland transferred 11,800 ETH worth $31.88 million to the Coinbase exchange. Additionally, ParaFi Capital withdrew 5,134 ETH worth approximately $13.83 million from the Lido platform and transferred it to the same exchange.
Cryptocurrency analyst Julien Bittel predicts that Ethereum could reach $20,000 by 2025. He states that in light of the 2023 trend and current data, ETH could repeat last year’s rise. Bittel shared a graph showing Ethereum’s performance between January 2023 and March 2024, emphasizing that the current trend coincides with this model. If this model continues, it has been suggested that ETH could make significant gains by the end of the year and approach its targeted levels.
The current price of Ethereum is at $2,671, marking a 0.05% increase over the last 24 hours. The price has fluctuated between $2,643 and $2,728 over the last 24 hours.
Developments in the Ethereum Market:
Major investors sold a total of $45 million worth of ETH.
Major players like Cumberland and ParaFi Capital transferred large amounts of ETH to Coinbase.
Analysts believe that ETH could experience significant value growth in the long run.
Despite institutional sales, Ethereum’s price stability and small increases show that investors continue to have confidence. While whale movements are considered an important indicator for the future of the market, Ethereum’s growth potential also draws attention.
