Ethereum

2024

bullish

<p>The post <a href="https://coinpedia.org/news/why-is-ethereum-price-up-by-10-today/">Why is Ethereum Price Up By 10% Today?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After experiencing the worst crash in 2024 during the past 48 hours, the crypto market – led by Bitcoin (<a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and Ethereum (<a href="https://markets.coinpedia.org/ethereum/">E</a><a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">TH</a>) rebounded significantly today. According to the latest crypto data, the total crypto market cap rallied around 5 percent to regain above $2 trillion on Tuesday during the early Asian session.</p> 
<p><a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum price</a> rebounded from a crucial support level of around $2,171 and rallied more than 10 percent to reach a daily high of about $2,547. Following the heightened crypto volatility, approximately $633 million had been liquidated from the industry in the past 24 hours.</p> 
<h2 class="wp-block-heading" id="h-ethereum-whales-seizes-the-opportunity-nbsp">Ethereum Whales Seizes the Opportunity&nbsp;</h2> 
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   <p lang="en" dir="ltr">Ethereum Fear and Greed Index is 17 — Extreme Fear<br>Current price: $2,419 <a href="https://t.co/YbAp5yi1gX">pic.twitter.com/YbAp5yi1gX</a></p>— Ethereum Fear and Greed Index (@EthereumFear) <a href="https://twitter.com/EthereumFear/status/1820610798521110777?ref_src=twsrc%5Etfw">August 6, 2024</a>
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<p>As the crypto market crashed with major global stock indexes on Monday, Ethereum’s fear and greed index dropped to as low as 17 percent, representing extreme fear of further capitulation.</p> 
<p>However, on-chain data analysis shows whale investors turned greedy to seize the opportunity. Moreover, the crypto market is expected to continue with a bullish outlook in the fourth quarter after a choppy August and perhaps September.</p> 
<p>For instance, a <a href="https://x.com/lookonchain/status/1820504855812931942?s=46" target="_blank" rel="noreferrer noopener nofollow">whale</a> withdrew 16,236 Ether, worth about $40 million, from the HTX exchange.</p> 
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   <p lang="en" dir="ltr">Justin Sun (<a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw">@justinsuntron</a>) withdrew 14,884 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($35.97M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 10 hours ago!<br><br>This brought the total amount of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> he accumulated since Feb to 392,474 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (est. cost: $1.19B, now worth: $995M).<br><br>Note that Justin Sun also deposited a net amount of 49M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> to <a href="https://twitter.com/hashtag/HTX?src=hash&amp;ref_src=twsrc%5Etfw">#HTX</a> in… <a href="https://t.co/43dHfK4U74">pic.twitter.com/43dHfK4U74</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1820632561770762456?ref_src=twsrc%5Etfw">August 6, 2024</a>
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<p>Meanwhile, the US-based spot Ether ETFs registered a net cash inflow of about $1.64 million on Monday, led by VanEck’s ETHV and Fidelity’s FETH.</p> 
<h2 class="wp-block-heading" id="h-midterm-ether-price-prediction-nbsp">Midterm Ether Price Prediction&nbsp;</h2> 
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<p>From a technical standpoint, Ethereum’s price against the US dollar is well positioned to revisit its all-time high in the near term, fueled by positive fundamentals. Furthermore, the large-cap altcoin, with a fully diluted valuation of about $302 billion, has been forming macro higher highs and higher lows, established characteristics of a rising market.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/is-the-crypto-crash-over-market-recovers-with-impressive-2-trillion-cap/" target="_blank" rel="noreferrer noopener">Is the Crypto Crash Over? Market Recovers with Impressive $2 Trillion Cap</a></p>

Why is Ethereum Price Up By 10% Today?

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