The #عملة_الإيثيريوم continued to show signs of sustained growth, leading the list of the top ten cryptocurrencies by market capitalization with the highest daily gains.
Amid this positive price trend, Wh,ale Ale,rt, which specializes in monitoring cryptocurrency chains, observed massive amounts of Ethereum trading between major exchanges within a few hours.
The company recorded a series of Ethereum transactions $ETH
massive, with over 117,678 Ethereum traded in less than four hours. This amount, valued at around 374 million dollars, raised questions among market watchers.
While the large movements in Ethereum's price were followed by a significant increase in the token's trading price, investors feel relieved that these movements may have positively impacted the market or remained neutral.
However, data shows that the massive amount of Ethereum was traded in four separate transactions. The last transactions saw a mysterious whale selling a massive 40,000 Ethereum, valued at nearly 127 million dollars, on the kr,,aken cryptocurrency exchange.
While this transaction carried the largest number of tokens traded during that period, this particular transfer raised concerns, indicating a potential attempt for massive selling or liquidity provisioning.
Subsequent transactions saw the transfer of 19,126 Ethereum $ETH , 31,775 Ethereum, and 26,777 Ethereum across co,,inbase and kemb,,land.
Although the reason for the large Ethereum transfers has not been specified, such significant whale movements between anonymous wallets and major exchanges often indicate a substantial increase in on-chain trading activities among institutional investors and retail whales, which could be positive for the cryptocurrency in question.
3,710,000 Ethereum in one day
Despite observing multiple significant movements of Ethereum during the specified period, the large transaction volume of Ethereum is still expected to see a noticeable decline of 5.87% over the past day.
This indicates that Ethereum whales have been more active in transferring their tokens over the past day. This slowdown in whale activity has raised concerns among investors, fearing the end of the upward trend.
While discussions about the sustainability of Ethereum's price rise continued, Ethereum has seen a tremendous price increase since the last day.
Data from Coin,,Mar,ketC,ap shows that the price of Ethereum $ETH rose significantly by 6.58% over the past twenty-four hours. However, it is trading steadily at 3,248 US dollars at the time of publication. #ETHBreaks3k #BinanceHODLerERA #AltcoinSeasonLoading #BTC120kVs125kToday