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Ethereum: A Whale Destabilizes Market with Breathtaking Investment

Fri 23 Feb 2024 ▪ 3 min of reading ▪ by Luc Jose A.
Getting informed Trading

The second most popular cryptocurrency in the market is at the center of an Ethereum whale’s interests. In recent days, this large investor has engaged in a frenetic activity of acquiring ethers. A trend that has not gone unnoticed by the crypto community, as the ether market experiences a remarkable surge.

Ethereum blockchain logo and whale

An Ethereum whale splurges on $187 million worth of ETH

Recently, an Ethereum whale made headlines for these massive acquisitions of ethers. According to data, they purchased $187 million worth of ethers in just three days.

The Ethereum whale’s acquisitions, identified by the address 0x7a9, total 64,501 ethers. Of this total, 13,526 ethers were acquired recently, an amount valued at around $39 million, based on an ETH price of $2,947.

This is in addition to the whale’s already substantial holdings. According to Spot On Chain data, their wallet would host a total of 91,321 ETH. Not to mention around $49.8 million in USDT and 5,485 STETH, collectively estimated at $334 million.

Such an accumulation of ethers speaks volumes about the mindset of this investor. At the very least, it demonstrates their great confidence in the growth trajectory of Ethereum’s native crypto. And the trends seem to be proving them right.

An Ethereum whale shakes the crypto market by acquiring $187 million worth of ETH in just three days

Is the ether market more dynamic than ever?

The analysis of recent trends for Ethereum’s native crypto shows a very healthy asset. It has entered a particularly significant bullish dynamic. In one week, ether has gained 6.17% in its valuation.

Indeed, the dynamism of Ethereum’s crypto is such that it has surpassed the $3,000 mark. However, the asset did not maintain this level for long, as its valuation retracted over the last 24 hours to a price of around $2,972.

However, this slight retreat in the ether’s price does not dampen the optimism of the crypto community. They firmly believe in the potential for further improvements in the valuation of the market’s second-largest crypto. This is the view of a crypto expert like Michaël van de Poppe.

In his opinion, we should anticipate the future price of ether to be in the region of $3,800 and $4,500. This is quite optimistic given that the all-time high price of Ethereum’s native crypto is around $3,142, last achieved in May 2021.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.