Ethereum

Gemini

April

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-stabilizes-as-whale-sells-off-holdings/" data-wpel-link="internal">Ethereum Price Stabilizes as Whale Sells Off Holdings</a><br></p>
<p style="text-align: justify">After witnessing a significant rise last week, the price of <strong><a href="https://coin-turk.com/bugunku-hareketlilik-en-cok-ripple-xrp-ethereum-eth-ve-bitcoin-cashi-bch-vurdu" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/galaxy-digital-expands-ethereum-investments-following-price-surge/" data-wpel-link="internal">ETH</a>)</strong> has begun to stabilize around $3,500. Due to this stagnation, many shareholders decided to realize their profits. According to the latest data, the first ETH holder exchanged 17,770 ETH at a rate of $3,503 for 62.24 million DAI.</p> 
<h2 id="whale-sales-in-eth">Whale Sales in ETH</h2> 
<p style="text-align: justify">The mentioned investor collected approximately 14,280 ETH worth around $2.6 million at an average price of only $182, covering purchases made from March 2017 to April 2021 from <strong>Gemini</strong> and Bittrex. With a profit reaching 23 times their initial investment, the gain amounts to $59 million. This whale’s sale of 17,770 ETH is providing a significant influx of money into the market.</p> 
<p style="text-align: justify">This situation is particularly noteworthy as there are enough buyers to absorb all the sold ETH. It could also exert a downward pressure on the price in the short term. However, the overall impact may depend on market sentiment. If the sale triggers a panic sell-off, the price could fall further. If the market sees this as a healthy correction or if the whale is simply taking profits, others may see it as a buying opportunity, and the price could stabilize and potentially recover, according to experts.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-334633 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/santiment-1.png" alt="" width="2048" height="693"></p> 
<h2 id="factors-influencing-eth-s-rise">Factors Influencing ETH’s Rise</h2> 
<p style="text-align: justify">At the time of writing, <strong>ETH</strong> is trading at $3,571.59, which is 27% below its all-time high. The ETH price had tested the $3,674.23 level twice in the past few weeks. If ETH manages to break through this level, it could end the downtrend observed since the drop from $4,081.55. ETH could likely head towards the $4,081.55 resistance once again.</p> 
<p style="text-align: justify">However, the token’s CMF (Chaikin Money Flow) has shown a decline over the past few days. This could indicate a decrease in money flow towards ETH. It suggests that ETH’s price might see a period of sideways or downward movement before starting to recover. The popularity of the <a href="https://en.coin-turk.com/ethereum-surges-past-3000-as-optimism-grows-among-traders/" data-wpel-link="internal">Ethereum</a> ecosystem could positively contribute to ETH in the future. The gas usage on the <strong>Ethereum</strong> network remained consistent over the past month, indicating a highly active ecosystem. However, the overall number of <strong><a href="https://coin-turk.com/refik-anadol-spacex-ile-isbirligini-duyurdu-yeni-nft-koleksiyonu" data-wpel-link="internal">NFTs</a></strong> traded on the network has significantly decreased in the last few days. This could indicate a decline in interest in NFTs within the Ethereum ecosystem and potentially harm long-term network activity.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-stabilizes-as-whale-sells-off-holdings/" data-wpel-link="internal">Ethereum Price Stabilizes as Whale Sells Off Holdings</a></h5>

Ethereum Price Stabilizes as Whale Sells Off Holdings

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