Ethereum

Cryptocurrency

2024

Terra Classic

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 <p class="paragraph">Ethereum (ETH) surged 90% in 2023, from January 1 to December 31, closing the year at $2,281 per token. At the time of publication, ETH is changing hands by $2,233 while whale investors increase their positions.</p> 
 <p class="paragraph">In particular, <em>SpotOnChain</em> spotted a huge purchase of $48 <a rel="dofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in 30 <a rel="dofollow" title="minutes" href="https://thebittimes.com/tag/minutes.html">minutes</a> by ‘Whale 0x931’ on January 5, 2024. The <a rel="dofollow" title="mysterious" href="https://thebittimes.com/tag/mysterious.html">mysterious</a> <a rel="dofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> used USDT and USDC stablecoins to acquire 21,192 ETH for a $2,265 average <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.</p> 
 <p class="paragraph">Remarkably, this address belongs to a gigantic whale worth around $142 million, with a balance of 79,500 ETH. Moreover, the ‘Whale 0x931’ has been building its position since January 13, 2023 — at an average price of $1,790.</p> 
 <p class="paragraph">Overall, the mysterious whale currently holds more than $35 million in unrealized profit, up approximately 25% in a year.</p> 
 <figure class="wp-block-image size-full">
  <img decoding="async" width="962" height="586" src="https://cdn.thebittimes.com/images/2024/01/06/b71c08bc3809183ed745d8134eae32b8.webp" alt class="wp-image-147696" srcset="https://cdn.thebittimes.com/images/2024/01/06/b71c08bc3809183ed745d8134eae32b8.webp 962w, https://cdn.thebittimes.com/images/2024/01/06/b71c08bc3809183ed745d8134eae32b8.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/b71c08bc3809183ed745d8134eae32b8.webp 768w" sizes="(max-width: 962px) 100vw, 962px">
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   ‘Whale 0x931’ inflow Ethereum transactions. Source: <em>SpotOnChain</em>
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 <h2 class="wp-block-heading" id="h-ethereum-price-analysis-amid-whale-signals">Ethereum price analysis amid whale signals</h2> 
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 <p class="paragraph">Notably, the ‘Whale 0x931’ could have already realized its massive multi-millionaire yearly profits with the turn of the year. However, increasing its position by 33% at higher prices signals that the mysterious whale is still bullish on Ethereum.</p> 
 <p class="paragraph">This recent purchase of $48 million on January 5, 2024, by a so far profitable whale suggests ETH might continue going up.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp" alt class="wp-image-147697" srcset="https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp 1536w, https://cdn.thebittimes.com/images/2024/01/06/ecb11a00cb19787dd77a667823808af2.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Ethereum (ETH) daily price chart on Binance. Source: <em>TradingView</em>
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 </figure> 
 <p class="paragraph">Nevertheless, even a smart gigantic whale is prone to make mistakes. There are no guarantees that Ethereum will continue its 2023 rally in 2024 despite strong indicators pointing to this outcome. ETH depends on an increased demand for its native token, which might come from market speculation and ecosystem growth moving forward.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-price-prediction-as-mysterious-whale-bags-50-million-of-eth-in-minutes-tbt75789.html">https://thebittimes.com/ethereum-price-prediction-as-mysterious-whale-bags-50-million-of-eth-in-minutes-tbt75789.html</a></p>

Ethereum price prediction as mysterious whale bags $50 million of ETH in minutes

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