Ethereum

2024

April

Spot

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The price of&nbsp;<a href="https://u.today/vitalik-buterin-reveals-how-to-make-ethereum-more-decentralized" rel="noopener noreferrer nofollow">Ethereum</a>, the main altcoin of the crypto market, has experienced a real roller coaster ride over the past 24 hours. Thus, after yesterday's dump, which liquidated tens of millions of dollars worth of positions in just an hour, the price of Ethereum fell by 3.1% at one point, reaching $3,411.&nbsp;
Then, however, there was a rebound, and a little more than 20 hours later, ETH is trading at $3,591, showing a 5.3% gain from yesterday's bottom.
Amid these dramatic price swings, a flurry of activity from crypto whales, the most prominent players on the market, has caught the attention of analysts. Thus,&nbsp;<a href="https://x.com/spotonchain/status/1778267774168797266" rel="noopener noreferrer nofollow">Spot On Chain</a> reported a massive deposit of 9,000 ETH, worth $32 million, by a whale known as "0x347" on Binance, marking the largest&nbsp;<a href="https://u.today/dogecoin-founders-new-doge-btc-eth-tweet-stirs-crypto-community" rel="noopener noreferrer nofollow">ETH</a> deposit by the entity to date. Currently, "0x347" holds 29,738 ETH, approximately valued at $106 million, with an estimated profit of $68.5 million.
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 Massive <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> whale 0x347 deposited 9,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($32M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at $3,560 for profits ~ 30 mins ago.Notably, this is the whale’s largest <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> deposit to date.Currently, the whale still holds 29,738 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> (~$106M) with an estimated total profit of $68.5M (+65%)!Follow… <a href="https://t.co/SdTaPdtLdM" rel="noopener noreferrer nofollow">pic.twitter.com/SdTaPdtLdM</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1778267774168797266?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 11, 2024</a>
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On the other hand, reports from&nbsp;<a href="https://x.com/lookonchain/status/1778116721150403064" rel="noopener noreferrer nofollow">Lookonchain</a> revealed substantial purchases by a whale, acquiring 10,309 ETH valued at $35.82 million during the market dip. This whale also made another hefty investment before Bitcoin's surge on April 8.
The conflicting actions of these major players reflect divergent opinions regarding Ethereum's short-term trajectory. While some view the price recovery as a bullish continuation of the trend, others speculate it might merely be a technical rebound. As ever with the market on edge, Ethereum remains a focal point of speculation and intrigue.

Ethereum (ETH) Skyrockets in Massive Whale Transactions Amid Price Recovery

U_Today

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