Ethereum‘s price took a short dip under $3,000 because of the Israel-Iran conflict, but it quickly rebounded, reaching over $3,150 again. This rise in price is driven by large investors, called whales, purchasing large quantities of ETH during price drops from exchanges.
Approximately 16,300 dollars worth of ETH (equivalent to around 51.1 million dollars) was recently taken out from Binance by a wallet connected to Matrixport. This has been a recurring pattern for this wallet in withdrawing ETH from exchanges since March 29th, with a grand total of 67,286 ETH (around 228.33 million dollars) withdrawn at an average price point of 3,393.5 dollars per ETH.— Lookonchain (@lookonchain) April 15, 2024
A significant transfer of Ethereum occurred when 16,300 ETH, equivalent to around $51.1 million, was taken from Binance and sent to a wallet associated with Matrixport. This withdrawal follows previous ones totaling 67,286 ETH, or approximately $228.33 million, withdrawn since March 29. These transactions suggest deliberate actions in the crypto market.
During the market slump, yet another significant entity purchased 1,000 ETH, equivalent to approximately $3.15 million, expanding their existing Ethereum stash of 8,300 ETH or around $25.12 million in value.
Long-term investors made some adjustments to their Ethereum holdings. They disposed of approximately $204 million worth of ETH during the peak, but only about $101.4 million worth was sold during the recent dip from previously untouched reserves.
Reducing selling pressure by $104 million between extreme prices might improve Ethereum’s price direction in the coming days. This could be particularly significant if buyers can drive the price over $3,200.
Read More
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- “Tornado Cash’s TORN Token: Riding the Rollercoaster of Sanction Roulette!”
- EXCLUSIVE: Mrs star Sanya Malhotra recalls seeing Shah Rukh Khan for 1st time and it’s not on Jawan sets; ‘Mujhey ek mahina…’
- The Weeknd’s ‘Hurry Up Tomorrow’ Billboard 200 Projections
- Roseanne Barr Has A Wild New TV Show About A Farmer Who’s ‘Saving’ America, And She’s Comparing It To The Sopranos
- Australia implements sweeping ban on credit and crypto for online betting
- David Taylor Takes You on a Tour of His Aluminum Explorations
- Pop-Tarts and Krispy Kreme Kick Off 2025 With Collaborative Menu
- Daredevil: Born Again’s EP Finally Opened Up About Having To Make A Case To Bring Back Karen And Foggy (And I’m So Glad He Did)
2024-04-15 09:08