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<ul>
 <li>Ethereum whales accumulated 700,000 ETH worth $2.45 billion in three weeks amid market volatility.</li>
 <li>Forced liquidations of $215 million, including $50.61 million from ETH, marked a challenging period for traders.</li>
 <li>Blockchain metrics suggest easing selling pressure with Ethereum’s price stabilizing between $3,400 and $3,600.</li>
</ul>
<p>According to on-chain analyst <a href="https://x.com/ali_charts" rel="noopener noreferrer nofollow">Ali</a>, Ethereum whales have purchased more than 700,000 ETH, worth approximately $2.45 billion, over the past three weeks. This accumulation occurred during a period of significant price fluctuations in the cryptocurrency market.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> whales have bought over 700,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> in the past three weeks, totaling approximately $2.45 billion! <a href="https://t.co/sfmXnkqD49" rel="noopener noreferrer nofollow">pic.twitter.com/sfmXnkqD49</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1802110427825897808?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 15, 2024</a>
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<h3 class="wp-block-heading" id="h-whale-activity-amid-market-turbulence"><strong>Whale Activity Amid Market Turbulence</strong></h3>
<p>In the past three weeks, huge <a href="https://cryptonewsland.com/spot-ethereum-etfs-likely-to-launch-by-july-2-analyst/" rel="noopener noreferrer nofollow">price swings</a> have resulted in over $215 million in forced liquidations for traders. Notably, $50.61 million of these liquidations were attributed to Ethereum positions. During this time, Ethereum’s price dropped to $3,368 on June 14th before rebounding to around $3,500 in the following days.</p>
<p>The price volatility had a significant impact on traders, with many experiencing automatic position closures as their funds became insufficient to support their bets. The forced liquidations affected traders on both the buying and selling sides, demonstrating the challenging nature of the market during this period.</p>
<h3 class="wp-block-heading" id="h-current-market-conditions"><strong>Current Market Conditions</strong></h3>
<p>At the time of writing, Ethereum was trading at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$3,551.00</a>, with a 24-hour trading volume of $10,420,433,249 USD. Ethereum has seen a slight increase of 0.47% in the last 24 hours. It currently holds the #2 spot on CoinMarketCap, with a live market cap of $426,456,703,596 USD and a circulating supply of 120,154,584 ETH coins.</p>
<h3 class="wp-block-heading" id="h-blockchain-metrics-indicate-potential-stability"><strong>Blockchain Metrics Indicate Potential Stability</strong></h3>
<p>Despite the recent market low, <a href="https://cryptonewsland.com/ethereum-soars-analyst-declares-it-the-most-bullish-altcoin-of-2024/" rel="noopener noreferrer nofollow">blockchain metrics</a> suggest that the situation may be stabilizing. A key indicator that tracks investor profits being cashed out showed a spike before leveling off, which analysts interpret as a potential easing of selling pressure. This indicator has flattened out in the $3,400 to $3,600 range, suggesting that the market may be finding its footing.</p>
<p>The recent activity of Ethereum whales purchasing large amounts of ETH highlights their confidence in the cryptocurrency despite market volatility. As the market navigates through these fluctuations, investors and analysts will continue to monitor blockchain metrics and price movements to gauge the potential for stability in the coming weeks.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/emerging-cryptos-poised-for-100x-gains-token-metrics-reports/" rel="noopener noreferrer nofollow">Emerging Cryptos Poised for 100X Gains, Token Metrics Reports</a></li>
 <li><a href="https://cryptonewsland.com/solanas-on-chain-metrics-dip-bulls-eye-comeback-past-162/" rel="noopener noreferrer nofollow">Solana’s On-Chain Metrics Dip, Bulls Eye Comeback Past $162</a></li>
 <li><a href="https://cryptonewsland.com/btcs-indicator-flow-reflects-a-bull-transition-metrics/" rel="noopener noreferrer nofollow">BTC’s Indicator Flow Reflects a Bull Transition: Metrics</a></li>
 <li><a href="https://cryptonewsland.com/cardanos-bullish-momentum-key-metrics-hint-at-price-surge/" rel="noopener noreferrer nofollow">Cardano’s Bullish Momentum: Key Metrics Hint at Price Surge</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-crash-triggers-207-million-in-crypto-market-liquidations/" rel="noopener noreferrer nofollow">Bitcoin Crash Triggers $207 Million in Crypto Market Liquidations</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ethereum-whales-accumulate-over-700000-eth-amid-market-volatility/" rel="noopener noreferrer nofollow">Ethereum Whales Accumulate Over 700,000 ETH Amid Market Volatility</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum Whales Accumulate Over 700,000 ETH Amid Market Volatility

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