Bitcoin, the leading cryptocurrency, is showing steady movement, and Ethereum, the largest alternative coin, recently soared above $3,100 to $3,135 over the weekend.
This surge in the value of Ethereum occurred without any specific events driving it, demonstrating its strong market position.
Recently, Ethereum is attracting attention from large investors, also known as whales, because it is more profitable than Bitcoin. Source of report Look on chain It was revealed that these whales have been actively purchasing Ethereum.
For example, a whale known as 0x8B94 moved and invested 14,632 ETH worth $45.5 million on Binance in just 6 days. Additionally, two new whale accounts withdrew 6,000 ETH worth $18.7 million from Kraken in two days.
The whales gathered 2,000. $ETHFrom ($6.2 million) #kraken 26,380 was accumulated 10 minutes ago. $ETH($81.77M) $2,255 starting May 24, 2023.
Unrealized profits are $22.3 million at current prices. https://t.co/3ToWyQSPvW pic.twitter.com/yIX6lfq7pE
— Lookonchain (@lookonchain) February 26, 2024
Another significant move was the purchase of 2,000 ETH (worth $6.2 million) from Kraken since May 24, 2023, accumulating a total of 26,380 ETH (worth $81.77 million). This last whale’s investment, along with Kraken, grew to be worth $22.3 million. Current Ethereum price.
market performance
Based on the latest data, the price of Ethereum is around $3,093. Looking at the broader market, Bitcoin’s price is $51,081.68, with trading volume over the last 24 hours of about $14.94 billion and a total market capitalization of $365 billion.
Over the past month, the price has risen approximately 22.89%. On the other hand, Ethereum is trading at $3,060.14 and the 24-hour trading volume is about $13.79 billion, a significant price increase of 35.27% over the past month.
These trends highlight Ethereum’s impressive performance in the market and its appeal to large investors. The activity of these whales, or large investors, suggests strong belief in the value of Ethereum and its future growth potential.
The post Ethereum Rises Above $3,100: Big Buyers Are All In! First appeared on Ripple Coin News.