Ethereum

Aave

Wrapped Bitcoin

Bitcoin

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<p>One significant whale <a href="https://twitter.com/lookonchain/status/1758168960753942542">has made</a> a substantial move that signals confidence in Ethereum (ETH) over Bitcoin (BTC).&nbsp;</p>
<p>According to Lookonchain, a notable cryptocurrency analytics platform, the investor has recently borrowed 280 Wrapped Bitcoin (WBTC) worth $14.6 million from decentralized finance protocol Aave and converted it into 5,150 ETH.&nbsp;</p>
<p>This action suggests a bullish stance on Ethereum and a bearish view on Bitcoin, potentially indicating a strategic shift among crypto whales.</p>
<h2 id="ethereum-s-new-yearly-peak">Ethereum's new yearly peak &nbsp;</h2>
<p>The price of <a href="https://u.today/dangerous-ethereum-eth-pattern-appears">Ethereum</a> has surged to $2,800, marking its highest point since May 2022 and highlighting a significant rebound in the cryptocurrency market.&nbsp;</p>
<p>The leap in Ethereum's valuation has been part of a broad market rally, suggesting a restored faith among investors in the digital currency space.&nbsp;</p>
<p>Ethereum's ascent reflects not only the burgeoning interest in blockchain and decentralized applications but also the inherently volatile nature of the crypto market.</p>
<h2 id="whale-accumulation-signaling-confidence">Whale accumulation signaling confidence&nbsp;</h2>
<p>A pivotal factor in Ethereum's price increase is the notable accumulation by a major investor. Detailed tracking by Lookonchain reveals that since the beginning of February, this whale has gathered approximately 69.5K ETH, valued around $179 million, from exchanges such as Binance, Bybit, Bitfinex, and OKEx.&nbsp;</p>
<p>This amassing of Ethereum has coincided with a near 24% increase in its price over a brief period. Such pronounced whale activities often indicate a robust belief in the asset's prospective performance and typically stimulate further investment from retail and institutional actors alike.</p>

Major Whale Is Betting Big on Ethereum (ETH)

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