Ethereum

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 <p class="paragraph">Ethereum (ETH) is looking to reclaim the $4,000 mark after receiving a major boost from the Securities and Exchange Commission (SEC).</p>
 <p class="paragraph">Excitingly, Ethereum investors are anticipating a potential surge in the cryptocurrency’s value following the U.S. regulator’s approval of a series of first-spot ETH exchange-traded funds (ETFs).&nbsp;</p>
 <p class="paragraph">Notably, there is a buzz of speculation about the possibility of Ethereum mirroring the price movement of Bitcoin (BTC), which experienced a significant rally after the approval of a similar product.&nbsp;</p>
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 <p class="paragraph">Amid the rollout of the ETFs, Ethereum is witnessing significant <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> activity. According to data shared by <em>Whale Alert</em>, three major transfers were observed from unknown wallets to the crypto exchange OKEx on May 25.&nbsp;</p>
 <p class="paragraph">The transactions involved 9,019 ETH (approximately $33,776,166), 22,429 ETH (valued at around $83,993,750), and 26,925 ETH (worth about $100,832,790), all moving to the exchange.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="663" height="544" src="https://cdn.thebittimes.com/images/2024/05/26/fbb98e965bf6a40f2c2a8e7a36acdf4e.webp" alt="" class="wp-image-178451" srcset="https://cdn.thebittimes.com/images/2024/05/26/fbb98e965bf6a40f2c2a8e7a36acdf4e.webp 663w, https://cdn.thebittimes.com/images/2024/05/26/fbb98e965bf6a40f2c2a8e7a36acdf4e.webp 300w" sizes="(max-width: 663px) 100vw, 663px">
  <figcaption class="wp-element-caption"><em>ETH whale transactions. Source: WhaleAlert</em>
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 <p class="paragraph">These transfers, totaling 58,373 ETH and equating to $118,602,706, have led to speculation regarding the impact on the valuation of the second-ranked cryptocurrency by market cap.</p>
 <h2 class="wp-block-heading" id="h-eth-price-prediction-nbsp">ETH price prediction&nbsp;</h2>
 <p class="paragraph">Overall, significant movement of such large sums into exchanges could suggest an anticipation of heightened trading activity. Historically, large transfers to exchanges have sometimes preceded major <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> actions, either due to impending sell-offs or strategic positioning for significant market events.</p>
 <p class="paragraph">To gather insights into how Ethereum is likely to trade in the coming days, Finbold turned to <em>CoinCodex</em>, leveraging its AI-powered machine-learning algorithms. According to <em>CoinCodex’s</em> projections, Ethereum is expected to trade at $3,813 on June 1, representing an increase of almost 2% from the current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="974" height="335" src="https://cdn.thebittimes.com/images/2024/05/26/ea31195acc99cfbfe6987130a4f6c4ca.webp" alt="" class="wp-image-178452" srcset="https://cdn.thebittimes.com/images/2024/05/26/ea31195acc99cfbfe6987130a4f6c4ca.webp 974w, https://cdn.thebittimes.com/images/2024/05/26/ea31195acc99cfbfe6987130a4f6c4ca.webp 300w, https://cdn.thebittimes.com/images/2024/05/26/ea31195acc99cfbfe6987130a4f6c4ca.webp 768w" sizes="(max-width: 974px) 100vw, 974px">
  <figcaption class="wp-element-caption"><em>Ethereum price prediction for June 1. Source: CoinCodex</em>
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 <p class="paragraph">Notably, the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> projection could set the stage for Ethereum to target new highs following the ETF approval.&nbsp;</p>
 <p class="paragraph">For instance, crypto analyst <em>RLinda</em> suggested in a <em>TradingView</em> post on May 24 that the approval could act as a bullish catalyst. According to <em>RLinda</em>, if Ethereum consolidates above $3,827 and surpasses $4,095, it will likely target a new record high.</p>
 <p class="paragraph">However, <em>RLinda </em>also cautioned that history might repeat itself, similar to the pattern observed with Bitcoin after the approval of BTC ETFs. Market makers could create a trap by causing a quick drop in <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> before an upward movement.</p>
 <h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum price analysis</h2>
 <p class="paragraph">By press time, Ethereum was trading at $3,741. On the weekly chart, ETH has rallied by over 20%.&nbsp;</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/05/26/01f4a6366454745f8b63a7b75a70da05.webp" alt="" class="wp-image-178453" srcset="https://cdn.thebittimes.com/images/2024/05/26/01f4a6366454745f8b63a7b75a70da05.webp 675w, https://cdn.thebittimes.com/images/2024/05/26/01f4a6366454745f8b63a7b75a70da05.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Ethereum seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">Meanwhile, the ETF approval acting as a catalyst for attracting institutional investors should encourage ETH bulls to work harder to sustain the price above $3,500.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;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="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-price-prediction-for-june-1-as-whales-move-118-million-eth-tbt89819.html">https://thebittimes.com/ethereum-price-prediction-for-june-1-as-whales-move-118-million-eth-tbt89819.html</a></p>

Ethereum price prediction for June 1 as whales move $118 million ETH

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