Ethereum

Spot

<p><strong>Ether goes green again!</strong> Rekindling investors’ hopes after <strong>a brief dip below $2,000</strong> last week. ETH whales have contributed to this rebound, some analysts believe.</p>
<h2 id="h-ethereum-climbs-back-above-2-000-once-again">Ethereum climbs back above $2,000 once again</h2>
<p>The latest ether analysis highlights a new ascent for the world’s second most valuable cryptocurrency. This is partly due to the <strong>request for BlackRock’s Ethereum Spot ETF</strong>.</p>
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     <p lang="en" dir="ltr">ETH Rallies Back Above $2,000<br><br>After a brief dip below $2,000, Ethereum (ETH) has rebounded and is now trading at $2,075.<br><br>This rally is being driven by whale accumulation, as large investors have been buying up ETH.<br><br>Is this the start of a new bull run for ETH?<a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/hashtag/eth?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#eth</a> <a href="https://t.co/HWdhgq9BqW" rel="noopener noreferrer nofollow">pic.twitter.com/HWdhgq9BqW</a></p>— Emily.Eth (@DarrinPayn62301) <a href="https://twitter.com/DarrinPayn62301/status/1727602887079973168?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 23, 2023</a>
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  The role of whales in Ethereum’s new performances
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<p>In a recent post, <a href="https://en.coin-turk.com/ethereum-shows-strong-performance-with-whale-accumulation-and-network-growth/" target="_blank" rel="noopener noreferrer nofollow">CoinTurk News</a> underscored other factors contributing to these new performances of ether. First and foremost, there are the whales. Santiment, an on-chain data expert, revealed that <strong>they have been loading up on ETH</strong> lately, more specifically, since November 21st.</p>
<p>Indeed, ETH whales (or institutional investors) have <strong>increased their ether holdings by 30% </strong>over the past two days. This means that the top 200 Ethereum wallets currently represent <strong>a treasure of 62,760 ETH.</strong> That’s $129 billion, considering the current price of the leading cryptocurrency: $2,060 per unit at the time this article was written.</p>
<p>Additionally, the <strong>growth in the number of ETH crypto wallets</strong> has also been a factor. Indeed, 94,700 new wallets have been created since July.</p>
<h2 id="h-heading-for-3-000">Heading for $3,000?</h2>
<p>$4,878.26 was the price of an ETH during its <strong>all-time high (ATH) on November 10, 2021</strong>. There’s still a long way to go before reaching this level for Ethereum’s native crypto.</p>
<p>It must first aim for the $3,000 mark. Some analysts remain optimistic, particularly with an increase in demand for ether derivative products.</p>
<p>Maarten Regterschot from CryptoQuant is among them. According to him, <strong>the conditions for an ETH bull run are currently aligned</strong> to dream of an ether breakout. He, for instance, noticed a significant influx of money into the derivatives market. An additional $700 million allocated around these Ethereum derivative products can only foster <strong>a positive sentiment</strong> regarding this altcoin.</p>
<p>Let’s not forget that huge quantities of ETH have recently left centralized crypto exchanges (CEXs). Santiment estimates they represent about 20% of the ether supply. And this is not without benefits: reducing selling pressure and confirming an Ethereum bull run. Keep a close eye!</p>

Ethereum at $3,000? The Fascinating Spectacle of ETH Whales

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