Ethereum

Aave

Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-activity-in-bitcoin-and-ethereum-sees-notable-increase/" data-wpel-link="internal">Whale Activity in Bitcoin and Ethereum Sees Notable Increase</a><br></p>
<p style="text-align: justify">Despite not surpassing the $64,000 mark last week, Bitcoin (BTC) continues to trade under pressure. At the time of writing, Bitcoin is trading at $61,605 with a <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> cap of $1.213 trillion, marking a 1.33% decrease. The selling pressure is also evident across the <a href="https://en.coin-turk.com/understanding-the-turbulence-in-cryptocurrency-markets-a-glimpse-into-the-future/" data-wpel-link="internal">cryptocurrency market</a>, particularly as Ethereum (ETH), the leading altcoin, struggles to maintain its <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> above $3,000.</p> 
<h2 style="text-align: justify" id="strong-bitcoin-whale-activity-rises-strong"><strong>Bitcoin Whale Activity Rises</strong></h2> 
<p style="text-align: justify">According to the latest data from on-chain data provider Santiment, a strong whale activity was observed for Bitcoin trading between $61,000 and $64,000. Wallet addresses holding between 1,000 and 10,000 BTC collectively accumulated approximately $941 million worth of BTC. This accumulation trend indicates a recovery towards the highest holding level in the last two weeks.</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-349453" src="https://coin-turk.com/wp-content/uploads/2024/05/Ethereum-Balina-Aktivitesi-scaled.jpeg" alt="" width="2560" height="1777"></p> 
<p style="text-align: justify">Ki Young Ju, CEO of crypto data platform CryptoQuant, highlighted that the fundamentals of the Bitcoin Blockchain are strong enough to support a market value three times its current size. According to him, with the current fundamentals, the price of the leading cryptocurrency could easily rise to $265,000.</p> 
<p style="text-align: justify">Crypto analyst Rekt Capital noted that following Bitcoin’s fourth block reward halving, the bull cycle is expected to slow down as it continues to consolidate below the $70,000 threshold. The analyst emphasizes that this slowdown aligns with the historically repeating block reward halving cycle and could potentially continue from mid-September to October 2025.</p> 
<h2 style="text-align: justify" id="strong-ethereum-whale-accumulates-32-million-worth-of-eth-strong"><strong>Ethereum Whale Accumulates $32 Million Worth of ETH</strong></h2> 
<p style="text-align: justify">Meanwhile, according to data from on-chain data provider Lookonchain, a significant investor holding a long position in Ethereum recently withdrew 6,030 ETH worth $18.09 million from the Binance exchange. This withdrawal transaction resulted in the whale accumulating a total of 10,758 ETH worth $32.14 million from Binance since May 2nd.</p> 
<p style="text-align: justify">According to on-chain data, the whale converted the purchased ETH into stETH and deposited it into the decentralized lending protocol Aave. Later, they borrowed $28.5 million worth of stablecoins from Aave to reinvest with the aim of acquiring more ETH.</p> 
<p style="text-align: justify">As this article is being prepared, the leading altcoin is trading just below the $3,000 threshold. Experts warn that if ETH cannot maintain these levels, the price could drop to as low as $2,700.</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/whale-activity-in-bitcoin-and-ethereum-sees-notable-increase/" data-wpel-link="internal">Whale Activity in Bitcoin and Ethereum Sees Notable Increase</a></h5>

Whale Activity in Bitcoin and Ethereum Sees Notable Increase

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