Ethereum Price: Whales Move 36K ETH As Price Regains Momentum, What’s Next?
Release: 2024/05/03 13:44 Reading: 325
Ethereum Price Regains Momentum, Whales Move 36K ETH
Despite a recent pullback, Ethereum, the second-largest cryptocurrency by market capitalization, has regained investor attention. On May 3, Ethereum's price surged past the $3,000 mark, instilling optimism in the market.
Whale Activity Intensifies
This upward trend has coincided with a significant spike in whale activity. Over the past day, approximately 36,000 ETH has been shifted, with whales engaging in both buying and selling.
ETH Whale Transactions
On-chain analysis reveals that whale 0xf83c... transferred 25,772 ETH to Coinbase Institutional, while whale 0x0b4... acquired 10,990 ETH from Coinbase. These contrasting strategies reflect the mixed sentiments within the crypto market.
Price Trajectory
Despite the bearish undertones from whale dumping, Ethereum's price trajectory has remained positive. As of writing, the token has gained 3.08% in the past 24 hours, trading at $3.001.
Market Dynamics
The ongoing security lawsuit and a potential post-Bitcoin halving rally could impact Ethereum's market dynamics. XRP, which has been embroiled in a legal battle with the U.S. SEC, has experienced sluggish price movement. Historically, post-halving rallies have often led to parabolic uptrends in altcoins, but future price movements remain uncertain.
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