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Key Points:<ul><li>Ethereum whale purchases $5.5M worth of ETH amidst Binance’s regulatory challenges.</li><li>Speculation rises as the whale aims to break the stubborn $2,100 resistance level, signaling a potential bull market.</li><li>Despite Binance founder’s resignation and fines, Ethereum prices recover, indicating resilience and potential upside.</li></ul>In the midst of a tumultuous crypto market, a mysterious <a href="https://cryptosnewss.com/massive-ethereum-whale-shifts-55-million-to-binance-after-withdrawals/" rel="noopener noreferrer nofollow">Ethereum whale</a>, renowned for its well-timed trades, has recently splurged an additional $5.53 million on ETH via Binance, as per on-chain data platform Lookonchain.This hefty <a href="https://twitter.com/lookonchain/status/1726987782080655863" rel="noopener noreferrer nofollow">purchase</a> comes on the heels of a $18 million acquisition using USDC stablecoin just last week, with the ETH prices pegged at <a href="https://twitter.com/lookonchain/status/1726277642436083786" rel="noopener noreferrer nofollow">around</a> $1,971. The strategic move has fueled speculation among analysts at Lookonchain, suggesting that the whale might be gearing up for an imminent ETH breakout beyond the formidable $2,100 resistance level. Crossing this threshold could potentially herald the resurgence of a bullish market.Despite recent expansions in Ethereum’s value, the $2,100 mark has proven to be a pivotal point for traders. Notably, the cryptocurrency breached this level only twice in late July and early November 2023. As of now, prices are trending upwards but are yet to breach the liquidation line.The Ethereum whale’s buying spree unfolds against the backdrop of significant developments at <a href="https://cryptosnewss.com/binance-waves-goodbye-to-the-us-market-with-record-breaking-settlement/" rel="noopener noreferrer nofollow">Binance</a>, where the U.S. Department of Justice recently imposed fines exceeding $4 billion for regulatory violations. This led to the resignation of Binance founder Changpeng Zhao as CEO on November 21, who will reportedly settle with U.S. authorities by paying $50 million.While news of the penalties initially sent shockwaves through the crypto market, resulting in a temporary dip in prices, Ethereum has since recovered about 5%, inching towards the $2,100 mark. This recovery raises the possibility of further gains if the whale trader’s foresight materializes.Meanwhile, BNB, the native currency of BNB Chain and a key incentive for trading on Binance, is experiencing pressure but remains relatively stable. Although it has failed to reverse the losses from November 21, the situation has been contained as of November 22._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/binance-fines-rattle-market-but-ethereum-whales-5-5m-move-signals-optimism-at-2100/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on November 23, 2023.

Binance Fines Rattle Market, But Ethereum Whale’s $5.5M Move Signals Optimism at $2,100

Cryptos Newss

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