Ethereum

2024

Bitcoin

April

After briefly dipping below $3,000 due to the Israel-Iran conflict, Ethereum’s price has bounced back strongly, <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">surpassing</a> $3,150. This resurgence is fueled by whales buying significant amounts of ETH from exchanges during price dips.
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 A wallet related to <a href="https://twitter.com/hashtag/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">#Matrixport</a> withdrew 16,300 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">$ETH</a>($51.1M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">#Binance</a> again 20 mins ago. This wallet has frequently withdrawn <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">$ETH</a> from exchanges since Mar 29, withdrawing a total of 67,286 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">$ETH</a>($228.33M) at an average price of $3,393.5.<a href="https://t.co/R43ImnYb5H" target="_blank" data-wpel-link="external" rel="noopener noreferrer nofollow">https://t.co/R43ImnYb5H</a> <a href="https://t.co/qmmzAxHzCV" target="_blank" data-wpel-link="external" rel="noopener noreferrer nofollow">pic.twitter.com/qmmzAxHzCV</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779711087514161370?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 15, 2024</a>
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One notable <a href="https://etherscan.io/address/0xacc74cfaa8ad730194c1828cc179c78d5c08200e" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">transaction</a> involved a withdrawal of 16,300 ETH worth $51.1 million from Binance to a wallet linked with Matrixport. This adds to previous withdrawals totaling 67,286 ETH valued at $228.33 million since March 29, indicating strategic moves in the crypto market.
Another major player acquired 1,000 ETH worth $3.15 million during the market downturn, adding to their total holdings of 8,300 ETH worth $25.12 million.
Long-term investors also adjusted their holdings, selling off 55,368 ETH worth $204 million from the recent peak. However, during the latest dip, only 31,165 ETH worth $101.4 million were sold from long-dormant supplies.
The reduction in selling pressure by $104 million between price extremes could positively impact Ethereum’s price trend in the near future, especially if bulls manage to push the price above $3,200.&nbsp;
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 Also Read: <a href="https://www.cryptotimes.io/2024/04/12/will-ethereum-reach-10000-after-bitcoin-halving-2024/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Will Ethereum Reach $10,000 After Bitcoin Halving 2024?</a>
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Ethereum Rebounds Above $3,150 After Binance Whale Activity

The Crypto Times

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