- Ethereum reclaims $2,000 high, exhibiting 6.10% growth from November 17.
- ETH whales begin accumulating after a two-month hiatus.
- Massive transactions by whales withdrawing profits indicate market activity amid the ETH price surge.
In a weekend surge, Ethereum (ETH) made a resounding comeback, reclaiming the coveted $2,000 mark on the Bitstamp exchange. This surge signified a notable 6.10% growth from its standing on November 17th, marking a substantial resurgence for the second-largest cryptocurrency in the market.Read CRYPTONEWSLAND on google news
This bullish momentum was accompanied by a subtle yet significant shift in Ethereum’s market landscape. Notably, major ETH holders have reinitiated their accumulation strategies after a hiatus spanning two months. An analyst observes a slow yet consistent uptick in ETH accumulation among these prominent investors, suggesting an undercurrent of confidence and interest in Ethereum’s potential trajectory.
Highlighting this growing interest, Whale Alert, a renowned crypto tracker, documented noteworthy ETH transactions originating from Bitfinex to undisclosed blockchain addresses. Notably, transactions involving 21,229 ETH worth $42,454,140 and 19,764 ETH evaluated at $39,157,392 were identified. The movement of these substantial sums to fresh wallets indicates strategic purchases, potentially earmarked for long-term storage in cold wallets.
However, amidst this accumulation phase, another facet came to light. As Ethereum’s price surged past $2,000, several of these whales made decisive moves to capitalize on profits. Whale Alert’s data showcased three significant transactions channeling ETH to top exchanges like Bitfinex and Coinbase. Noteworthy among these were transactions involving 18,373 ETH, 18,095 ETH, and 15,000 ETH, collectively valued at over $65 million. These sizable withdrawals indicate a strategic play by investors to leverage their gains amid the rising market valuation of Ethereum.
Read also:disclaimer read more
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.