Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame. Behind this interesting increase in Ethereum are some large Ethereum holders who seem to be increasing their holdings.  Notably, on-chain data from multiple analytics platform points to an uptick in activity from Ethereum whales in the past few days. Particularly, Glassnode data suggests large holders of Ethereum have added at least 70,000 ETH into their wallets since the beginning of last week. Ethereum Whales Spend Big On ETH The interesting Ethereum whale activity noted above is revealed through on-chain analytics platform Glassnode. As shown in the chart below, the number of Ethereum wallets holding 10,000 ETH or more has experienced a rise in the last 24 hours, increasing to 925 wallets. This marks a gain of about seven new whale wallets that have accumulated a huge number of ETH tokens, up from the 918 wallets recorded on September 18.  Related Reading: Bitcoin Prediction: Crypto Pundit Reveals Why $100,000 Is The Nominal Price Level For 2025 Supporting this trend, additional data from IntoTheBlock (ITB) indicates a surge in activity from addresses holding substantial amounts of Ethereum. ITB tracks these movements through a specific metric that monitors the number and value of transactions exceeding $100,000. According to this metric, Ethereum whale activity has reached over $29 billion in the past seven days. While this figure accounts for both inflows and outflows from whale wallets, the sheer scale of these transactions is notable. Historically, such high levels of activity from large holders tend to be a bullish indicator for cryptocurrencies. This heightened activity is further reflected in the inflows of ETH into large holder wallets. On September 23, these inflows soared to 515,520 ETH, representing an impressive 440% spike compared to the 95,820 ETH recorded during the previous 24-hour period.  Time To Buy ETH? At the time of writing, Ethereum is trading at $2,626. As noted earlier, this is on the back of a 13% increase in the past seven days, prompting Ethereums overperformance over Bitcoin for the first time since the beginning of the year. The leading altcoin has mirrored Bitcoins movements so consistently that some analysts have questioned its potential for decoupling anytime soon. Related Reading: XRP Remains Bullish: Crypto Experts Unveil Predictions For The Price Ethereum’s importance in the crypto industry means there’s never a bad time to accumulate more ETH. Ethereum just broke over $2,600 for the first time in September, which is the first step in a sustained move to the upside. The next key target is to break above $2,700 before the end of the month, which could pave the way for a push towards $3,000 in October. Featured image created with Dall.E, chart from Tradingview.com

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Diamond Hand Ethereum Whale Moves 15,000 ETH, Heres The Destination

A Diamond Hand Ethereum (ETH) whale has suddenly emerged, transferring a massive 15,000 ETH token to a major exchange. Given the sheer size of the transaction, this whale has caught the attention of many Ethereum investors and the broader crypto community. Diamond Hand Whale Moves 15,000 ETH Tokens Spot On Chain, a blockchain analytics platform, [...]

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Ethereums Investor Activity Stalls: Is a Major Correction on the Horizon?

Ethereum (ETH), the second most popular cryptocurrency based on the daily trading volume, shows signs of a significant decrease in the investors interest. Analytical platform CryptoQuant revealed that this may indicate that it is in an accumulation phase or that a market correction may be expected in the near future. On-chain data from a one-month […]

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Is This The End For Ethereum Or A Generational Opportunity?

Ethereum holders are definitely being tested by some tough times, with recent price action failing to create a bullish perspective for the digital asset. One of the major disappointments has been the performance of spot Ethereum exchange-traded funds (ETFs), which were launched in the U.S. with great fanfare. These ETFs were seen by numerous market participants as the key that could unlock significant upward movement for Ethereum. Since their introduction, they have not delivered the expected results, leaving investors frustrated. Matt Hougan, Chief Investment Officer of Bitwise, a popular crypto index fund manager, continues to maintain a positive ETH outlook. According to him, Ethereum is still at the forefront of blockchain applications that are seeing breakthrough success. This Is Not The End For Ethereum The lack of positive momentum in the Ethereum market has been enough to shake the confidence of seasoned investors. The combination of uncertain macroeconomic factors, rising competition from Solana and other blockchains, and the unmet expectations surrounding the Ethereum ETFs has contributed to the pessimistic outlook for the digital asset.  Related Reading: Crypto Analyst Says Bitcoin All-Time High Only A Month Away After Breaking $60,000 Among the optimists is Matt Hougan, who shared his views in a recent memo. Hougan has maintained a bullish outlook on Ethereum, standing firm in his belief that the current challenges are only temporary and that the asset still has the potential to rebound. Hougan argues that although Ethereum has fallen behind Bitcoin and Solana’s year-to-date growth of 38% and 31%, respectively, the cryptocurrency’s long-term prospects remain strong. In his memo, Hougan highlighted ETH’s continued dominance as the leading blockchain for decentralized applications (dApps), stating that it retains the lion’s share of activity among developers building on blockchain technology. He went as far as to liken Ethereum to the “Microsoft of blockchains.”  To support his claim, Hougan pointed to notable examples of Ethereum’s adoption by major companies. One such example is BlackRock’s tokenized money market fund, which launched in March 2024 and now has more than $500 million in assets under management. Another example is Nike’s Web3 gear platform called .Swoosh.  Ethereum has the most active developers and users. As such, Hougan believes the blockchain will be first on the radar of the next large traditional company wanting to do a blockchain product. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 Whats Next For ETH? According to Hougan, Ethereum is a contrarian bet for the rest of the year. What this basically means is that he expects Ethereum to go against the ongoing market sentiment and surprise many investors with a bullish run by the end of the year.  At the time of writing, ETH is trading at $2,440 and is up by 5.2% in the past 24 hours. This recent uptick brings Ethereum close to testing a key resistance level at $2,450 once again. Featured image created with Dall.E, chart from Tradingview.com

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Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4

Recent Ethereum price action saw ETH reaching another low of $2,150 on September 6, raising concerns of a more severe drop towards the $2,000 price level. Although these concerns were eased with a subsequent bounce to $2,460 on September 13, Ethereum remains largely in a downtrend, with a triple-bottom price formation now shaping up. Interestingly, [...]

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Ethereum In 3 Months: Legendary Analyst Reveals Prediction For December

Much like Bitcoin (BTC), the price of Ethereum (ETH) has been trading significantly sideways lately. Due to this downtrend, a legendary crypto analyst has offered some insights into Ethereums price movements, predicting that in the next three months, the pioneer altcoin could see its price hit a bottom.  Ethereum To Hit Price Bottom By December Benjamin Cowen, the founder of ITC Crypto and a prominent crypto analyst, has published a YouTube video discussing Ethereums price movements, highlighting a potential correlation between ETHs price declines with the rising United States (US) unemployment rates.  Related Reading: Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000 Historically, the rate of unemployment within the US tends to peak in the month of December, and Ethereum has experienced a price bottom during the same month in both 2016, and 2019. With the unemployment rate currently rising in the US, Cowen suggests that a continuation of this economic trend could lead to a peak in December 2024, potentially coinciding with a price bottom for Ethereum. For the past few months, the price of Ethereum has been on an unusual downward trend, crashing by over 20% earlier this year and dipping below $3,000. The cryptocurrency had mirrored Bitcoins price declines, bleeding red almost immediately after the broader market turned bearish.  Despite the launch of Spot Ethereum Exchange Traded Funds (ETFs), ETH has failed to gain enough momentum to propel its price to previous highs. Considering the cryptocurrencys extensive decline trend, Cowen predicts that Ethereum could witness a 50% decline soon.  Although the analyst did concede that the projected decline might not be as severe as a 50% drop, he remains convinced that some degree of decline, even if mild, is probable. As a result, Cowen has set a new target for Etheruems price by December, predicting that the pioneer cryptocurrency could see its price dropping to $1,200 from its current value.  While drawing parallels between Etheruems price actions in 2019 and 2024, Cowen further suggested in an X (formerly Twitter) post that ETH might temporarily fall below its recently formed a wedge pattern before finding a price bottom. The analyst believes that after Ethereum hits its price bottom, the cryptocurrency could be on the road to a significant price recovery.  As of writing, CoinMarketCaps data reveals that Ethereums price is trading at $2,354, reflecting a slight uptick of 1.26% in the last 24 hours.  Selling Pressures Increase For ETH Amidst price declines and broader market volatility, Ethereum has also been experiencing an increase in selling pressures. On September 10, Lookonchain reported that MetaAlpha, a hedging and trading service company, had executed another major transaction in a deposit of 10,000 ETH tokens valued at $23.45 million. Related Reading: Crypto Analyst Predicts Dogecoin Will Rise 3,600% To $3.7, Heres When Over the past four days, the company has moved a total of $33,589 ETH, worth about $77.55 million, to the Binance crypto exchange in the past four days. Meanwhile, the Ethereum Foundation, a non-profit organization supporting the Ethereum ecosystem recently sold another 100 ETH tokens, bringing its total ETH sales since January to 2,616 ETH.  Featured image created with Dall.E, chart from Tradingview.com

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XRP Has Surpassed Bitcoin, Ethereum, And Solana Combined In This Metric

The long-standing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has finally made significant progress in court, and the case may be nearing its end, with a surge for XRP. As expected, this development revitalized interest in XRP, Ripple’s native cryptocurrency, which in turn led to a noticeable surge in XRP’s activity across the crypto industry.  On-chain data reveals a surge in the number of transactions and trading volumes for XRP on major cryptocurrency exchanges. One of the most noteworthy instances of this trend can be seen on the South Korean exchange, Upbit, where XRP trading volume has surged dramatically. This surge has been so pronounced that XRP’s trading volume on Upbit has eclipsed that of major cryptocurrencies like Bitcoin, Ethereum, and Solana. The price of XRP experienced a rapid surge in the immediate aftermath of a pivotal court ruling by Judge Analisa Torres, a decision that Ripple executives and the community interpreted as a positive outcome for the payments technology company. As reported by Bitcoinist, the federal judge ordered Ripple to pay $125 million in civil penalties to the U.S. Securities and Exchange Commission (SEC), which is significantly lower than the $2 billion initially sought by the regulator.  Related Reading: CryptoQuant CEO Says Bitcoin Price Could Reach New ATH If It Holds This Level In reaction, XRP surged from $0.50 to $0.6368 in less than two hours, according to data from Coinmarketcap. This sharp increase in value was accompanied by an extraordinary spike in trading activity, particularly on the South Korean-based exchange Upbit. During this period, Upbit’s trading volume reached an astounding 746 million XRP, valued at over 610 billion KRW within a 24-hour time frame.  At the height of this trading frenzy, XRP accounted for more than 30% of the total volume on the exchange. This huge trading volume was enough to account for 14% of the total transactions worldwide after the court ruling. Chad Steingraber, a fervent XRP enthusiast, shared this statistic on social media platform X.  Bithumb, another prominent cryptocurrency exchange in South Korea, also witnessed a dramatic increase in XRP trading volume. The altcoin’s trading volume surged past other major cryptocurrencies, including Bitcoin, Ethereum, and Solana, accounting for 22% of the total trading volume on the exchange. Whats Next For XRP? The recent ruling means XRP is now free from the burden of the lawsuit that has hampered its price growth for the past four years. However, despite this positive development, the case could continue to cast a shadow over XRP if the SEC decides to appeal the ruling. An appeal could extend the legal proceedings, thereby prolonging the uncertainty that has followed its price performance. Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The Clear Winner At the time of writing, XRP is trading at $0.6046. The recent price surge means the cryptocurrency has broken out of a descending triangle pattern again. According to a recent technical analysis, a significant breakout from this pattern could translate into an extended XRP price surge into new all-time highs. Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The Clear Winner

A crypto analyst has reignited the debate between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of both altcoins, the analyst has finally identified a clear winner in the competition.  Solana Wins Battle Against Ethereum In a recent X (formerly Twitter) post, legendary crypto trader and [...]

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Solana Tests All-Time High Against Ethereum Amid ETHE Outflows: Report

Popular crypto analyst Daan Crypto recently pointed out certain interesting pattern in the market of cryptocurrencies. In a recent X post, the analyst highlighted that the SOL/ETH ratio is at the highest level ever with the fourth attempt at the current market cycle. This trend highlights Solanas resilience, even as Ethereum experiences a vulnerability observed […]

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Crypto Pundit Predicts Ethereum Price Rise To $3,000, But A Crash Could Happen First

Crypto analyst CrediBULL Crypto has provided deep insights into what to expect from the Ethereum price action going forward. The analyst predict that the second largest crypto token by market cap will still rise to $3,000 but noted that a crash will happen first.  Ethereum To Rise To $3,000 Soon Enough In an X (formerly Twitter) post, CrediBULL Crypto shared a chart that showed that Ethereum would rise to $3,000 sometime in September. However, the analysts chart also showed that Ethereum will drop below $2,500 before it enjoys this move to the upside. CrediBULL Crypto did well to explain why he believes that ETHs price will follow such a trajectory.  Related Reading: Cardano Investors React To 14% ADA Price Surge To $0.37 According to the analyst, Bitcoin will likely pull back soon, giving altcoins like Ethereum a nice reset. He stated that Ethereum’s first downside target is around $2,300 and $2,500. CrediBULL Crypto added that Ethereum will target range lows if it loses that range. However, the crypto analyst remarked that the ideal move is for Ethereum to drop to this first downside target and then bounce from there for another leg up, pushing it into the higher timeframe resistance at $3,000 before the final crash. Meanwhile, CrediBULL Crypto again noted that this projected move depends on Bitcoins price action.  As such, he warned that if Bitcoin melts harder, then ETH will likely lose the range between $2,300 and $2,500 and drop lower. On the other hand, if Bitcoin simply corrects midway, then Ethereum will see a bounce in that range and enjoy another higher high, which he highlighted on the chart.  Based on this chart setup, CrediBULL Crypto warned that opening fresh longs on altcoins like Ethereum at their current price level is a bad idea. There is no doubt that crypto bulls may be tempted to make such a move, seeing as Bitcoin achieved a successful breakout above $60,000 over the weekend and looks ready for another massive rally to the upside.  The Real Fun Hasnt Began For ETH Crypto analyst Cousin Crypto suggested that the fun is yet to start for Ethereum and that a massive rally is still on the horizon for the crypto token. Based on the chart he shared, Ethereum is still set to rise above $5,000 in this bull run and could begin the rally to this price level next month.   Related Reading: The Shiba Inu Shibarium Suffers 97.6% Crash In Active Accounts, Whats Going On? Crypto analyst Poseidon echoed a similar sentiment, remarking that the expansion will begin once Ethereum flips $3,000. This expansion will take Ethereum as high as $5,200, a price level the analyst predicted the crypto token could reach by October. Such a price rally will mark a new all-time high (ATH) for EtheETHreum, whose ATH is currently at $4,800.  At the time of writing, Ethereum is trading at around $2,7030, down almost 1% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Metrics Turn Positive: Can This Drive A New ATH Above $5,000?

The worst looks to be over for Ethereum (ETH), as certain metrics suggest that the bottom is already in for the second-largest crypto by market cap. Based on this, ETH looks to be headed for a new all-time high (ATH), surging past its current ATH of $4,800.  Ethereum MVRV Shows Bottom Is In Data from [...]

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Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

Cardano (ADA) is currently competing with Ethereum in terms of large transaction volume. This is undoubtedly a positive development for the ADA ecosystem, especially since it indicates a wave of accumulation among the tokens large holders.  Cardano Matches Ethereum In Large Transaction Volume Data from the market intelligence platform IntoTheBlock shows that Cardano is witnessing a similar large transaction volume as Ethereum. In the last 24 hours, Cardano recorded a large transaction volume of $6.7 billion, while Ethereum witnessed a large transaction volume of $6.71 billion.  Related Reading: Why Did This Crypto Whale Spend $400 Million Buying Bitcoin Yesterday? This development suggests that Cardano whales have been active these past few days as they look to add more tokens to their positions, especially with the market currently on a dip and as these investors anticipate the much-awaited price rally from ADA. Further data from IntoTheBlock confirms this, as there has been an over 15% increase in large holders net flow over the last seven days.  Data from the on-chain analytics platform Santiment also shows that Cardano whales have added to their positions. These investors, wallets holding between 100,000 and 10 million ADA tokens, collectively bought 120 million ADA tokens between July 17 and August 1. These wallets now hold over 5.69 billion ADA tokens.  An increase in whale activity presents a bullish outlook for the Cardano ecosystem. These investors could influence market prices, and these purchases could spark a significant surge in ADAs price. This will provide a much-needed boost for Cardano, seeing how the crypto token has underperformed since the start of the year.  Cardano has a year-to-date (YTD) loss of over 35% and is one of the most shorted altcoins, thanks to this unimpressive price action. However, Santiment has suggested that a massive turnaround for the crypto token cannot be ruled out since Cardano being heavily shorted increases the chances of liquidations leading to pumps. The on-chain analytics platform claimed these liquidations could act as rocket fuel for a price rally for Cardano. What Will Eventually Spark That ADA Rally? Cardano has failed to enjoy any significant rally despite several bullish developments in its ecosystem this year. The most recent bullish fundamental was the news that the US Securities and Exchange Commission (SEC) no longer considers ADA a security following the amendment of its complaint against Binance.  Related Reading: Crypto Analyst Says Dogecoin Price Will Rise Over 7,200% To Reach $10, Heres Why Meanwhile, the Chang Hard Fork is underway as Cardano transitions to the Voltaire era and ushers in its most advanced governance system. It is worth mentioning that ADAs price maintained a tepid price movement following the release of node validator software, version 9.1.0, which incorporates the Chang Hard Fork. As such, Cardanos price action begs the question of what needs to happen for the crypto token to finally witness that much-anticipated price rally and catch up with the rest of the major cap tokens in terms of YTD gains.  At the time of writing, Cardano is trading at around $0.38, down in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Price Wobbles As Inflation Sees 210,000 Added To Circulation

Recent market dynamics have again brought Ethereum’s supply into the spotlight and reiterated concerns about its inflationary trend. Earlier this year, Ethereum reached a significant milestone in its circulating supply, surpassing 120 million ETH and the number continues to grow. Unlike other prominent cryptocurrencies such as Bitcoin and Cardano, which have fixed supply caps, Ethereum was designed with an unlimited supply of tokens. This fundamental difference makes Ethereum an inherently inflationary asset, one that has a continuously increasing supply. On-chain data from Ultrasound.money has shed light on the growing supply of ETH in recent months amidst notable price fluctuations for the cryptocurrency. The most recent data indicates that the total supply of Ethereum has now reached approximately 120.28 million ETH. Related Reading: XRP Price Prediction: Analyst Says God Candle Will Send Price To $57 Over the past seven days alone, 16,039 new ETH tokens have been issued. This pace of issuance corresponds to an annual inflation rate of 0.70%. Interestingly, this data shows that 243,886 ETH has been created in the past four months since the Dencan upgrade in March. What Does This Mean For Ethereum? Ethereum’s inflationary mechanism is mostly counteracted by burning tokens. This burn mechanism was introduced as part of Ethereums London Hard Fork in order to introduce a deflationary mechanism to Ethereum.  This mechanism aims to reduce the overall supply of ETH by burning a portion of the transaction fees, thereby introducing a deflationary counterbalance.  However, data from Ultrasound.money shows the burns are currently lagging behind issuance, and Ethereum is now on an inflationary trajectory. Particularly, 2,028 ETH were burned in the past seven days, compared to 18,075 ETH issued in the same timeframe. Such a sustained uptrend in supply growth could cause downward pressure on the price of ETH in the case of a decline in demand. At the time of writing, Ethereum is trading at $2,615 with no significant gains or losses in a 24-hour timeframe. Looking at a broader seven-day price action shows Ethereum has largely traded within a range of $2,750 on the upper end and $2,530 on the lower end. The latest price action saw Ethereum rebounding at $2,540 in the past 12 hours. If this continues, Ethereum could possibly push up and retest $2,750 in the next few hours. Related Reading: Bitcoin Risks Further Decline As Bearish Death Cross Returns According to the latest figures from Greeks.live, approximately 184,000 ETH options are set to expire today. These options represent a substantial nominal value of $470 million and are characterized by a put-call ratio of 0.8 and a maximum pain point of $2,650. This high put-call ratio value means market participants are currently buying more put options than call options, which in turn suggests a bearish sentiment.  Pictured image from Dall-E, chart from Tradingview.com

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Can Solana Replicate Ethereums Run To Reach $1,000? Expert Answers

A crypto market expert has expressed bullish optimism for Solana (SOL), predicting that the cryptocurrency is currently on track to replicate Ethereums historical rise to new highs. As a result, the expert foresees SOL hitting new all-time highs of $1,000 this bullish cycle.  Solana Sets Sights On $1,000 On August 12, a crypto analyst identified [...]

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Ethereum Price Ready For 75% Breakout To $4,723, Heres Why

Crypto analyst Javon Marks has predicted that Ethereum (ETH) could enjoy a 75% breakout and rise to $4,723. The analyst also explained why this parabolic rally is possible for the second-largest crypto by market cap. Why A Rise To $4,723 Is Possible For Ethereum Marks mentioned in an X (formerly Twitter) post that Ethereums price [...]

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Ethereum Return To $4,000: Key Zones And Price Levels To Watch

Ethereum has struggled greatly underneath the bearish pressure that has been mounted on the crypto market over the last few weeks. The ETH price suffered multiple crashes that sent it toward $2,000 once more, shattering the expectations for a new all-time high in the third quarter. However, this decline may only be short-lived as one crypto analyst has suggested that the Ethereum price could be getting ready for another rally that could push it toward its previous highs. Ethereum Looking Promising On 1-Week Chart Crypto analyst RLinda has posted a promising analysis on the Ethereum price on the TradingView website. This analysis focuses on the ETH price on the one-week chart, which has maintained bullishness despite the crash. This follows the continuous accumulation from the low $2,000s level as the price recovers. Related Reading: Bitcoin Exchange Outflows Soar To Yearly High Could This Fuel A Return To $70,000? The crypto analyst highlights that Ethereum is seeing buyback from the market following the crash. This suggests bullishness among investors despite the price remaining low at this point. As for the chart, the analyst points out that a very promising technical situation is forming on W1. RLinda proposes that there could be a number of promising conditions forming if the ETH price were to return to its global sideways range. In this case, the crypto analyst believes that Ethereum could be seeing a good cause to jump toward the $4,000-$4,800 range. Amid all of this, the crypto analyst maintains that the background for Ethereum is still quite bullish. The liquidation (strong downward movement) and the subsequent active buyback indicates that the market is free of unnecessary traders and the train can now move in the right direction, it remains to get to the key station before departure, RLinda stated. Key Levels To Watch The Ethereum price being bullish is positive for the cryptocurrency. However, there are still various important levels to watch that serve as important levels for the cryptocurrency to achieve this goal. This includes both support and resistance levels along the way. Related Reading: Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy In this case, RLinda places significant attention not he $2,717-$2,817 resistance area. Mainly, these areas serve as the most important resistance levels in this drive upward. According to the analyst, beating this resistance and forming support will provide the ETH price a promising liquidity target above $4,000. A full rundown of the resistance levels is $2,717 and $2,817, while the major support levels from here include $2,518, $2,425, and $2,400. RLinda believes that the whales Ethereum buyback shows that major players are still bullish. After Friday’s test and pullback, the price is back to the level, which increases the chances of a breakout, the crypto analyst said in closing. Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Price Falls 5.78% as RSI Reaches Lowest Level Since August 2023

Ethereum price witnesses a 24-hour drop of up to 5.78%, as its Relative Strength Index (RSI) hits lowest level since…

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Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash

Pseudonymous trader and analyst Roman has made a bold prediction regarding the ETH price, suggesting that investors should lower their short-term expectations. This comes amid a drop in the hype around the Spot Ethereum ETFs, with these funds currently suffering significant outflows.  What To Expect From The ETH Price Roman mentioned during an interview with Hall of Flame that he doesnt see Ethereum doing that well for the next few months. The analyst believes that ETH will suffer a similar fate to the rest of the crypto market as Bitcoin sucks up all the liquidity while altcoins continue to trade sideways due to this.  Related Reading: Analyst Identifies Bullish Pattern That Can Send XRP Price To New Highs As such, Roman doesnt expect the ETH price to enjoy any parabolic rally until traders begin to rotate their capital from Bitcoin into altcoins, with Ethereum likely to lead the pack when that time comes. The analyst also noted that this period will likely come when traders think Bitcoin is at or close to its market top.  The analyst highlighted the period in 2020 when Ethereum didnt really do well until the flagship crypto hit $40,000. He noted that the ETH price was down 80% from its all-time high (ATH) while Bitcoin broke ATHs. Indeed, Ethereum is currently suffering a similar fate. Bitcoin hit a new ATH earlier this year, while ETH is down over 33% from its current ATH of $4,890.  Meanwhile, Roman explained how Ethereum will rise from the ashes when Bitcoin is almost or already at its peak. He stated that when Bitcoin starts to experience a significant price correction, after hitting a price target like $120,000, Bitcoin traders are taking profits and rotating it into Ethereum and other altcoins.  Interestingly, the crypto trader suggested that Ethereums success largely depends on Bitcoin. He claimed that the flagship crypto needs to continue to break new highs and rally much higher for money to flow into ETH and other altcoins. Meanwhile, Roman believes that the liquidity shift will happen before year-end.  How Much Could Flow Into The Spot Ethereum ETFs Expectations for the Spot Ethereum ETFs have dropped since they began trading on July 23, with analysts like Sygnum Bank Head of Research Katalin Tischhauser suggesting that inflows into these funds could be lower than expected.  Tischhauser told The Block that the Spot Ethereum ETFs could witness as low as 15% of Bitcoins flows, with around $5 flowing into these funds in their first year of trading while $30 billion flows into the Spot Bitcoin ETFs. Related Reading: Institutional Investors Show Interest In Cardano, Triggering 300% Surge The analyst made this prediction based on Ethereums lesser name recognition and ETHs market cap compared to Bitcoins, suggesting that the Spot Ethereum ETFs will likely record less adoption and lower liquidity.  These Spot Ethereum ETFs have suffered significant net outflows since they began trading thanks to Grayscales Ethereum Trust (ETHE). However, these funds broke this streak of net outflows on July 30, with data from Farside Investors showing that they recorded a net inflow of $33.7 million.  Featured image created with Dall.E, chart from Tradingview.com

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Brace For Impact: Ethereum Whales Send Over $205 Million To Coinbase

On-chain data suggests that some Ethereum whales might be jumping off the bandwagon amidst the ongoing tug-of-war between bulls and bears. This phenomenon has become increasingly evident as transaction data from whale trackers reveals a significant uptick in whale activity over the past 24 hours. The majority of these transactions are directed towards various crypto exchanges, indicating a possible shift in strategy or sentiment among these large-scale investors.  Notably, on-chain transaction alerts from Whale_Alerts show that approximately $205 million worth of ETH has been transferred into crypto exchange Coinbase from unknown wallets within the past 24 hours.  Ethereum Whales Send Huge Amounts To Coinbase As noted earlier, transaction alerts from whale transaction tracker Whale_Alerts show that 61,819 ETH were sent to the crypto exchange Coinbase in the past 24 hours from whale wallets. These transactions, collectively worth $205 million at the time of transfer, were made known through the social media platform X. Related Reading: Solana Confirms Upside Breakout With Bullish Pennant Heres The Target It is interesting to note that the movement into Coinbase wasn’t made through a lump sum but was made through a series of five transfers, each with an average of 10,290 ETH worth over $34 million. Interestingly, the transfers were made in such a consecutive manner that it might suggest that they were controlled by the same entity. Regardless, the movement of such a significant amount of ETH has ignited attention, as evidenced by comments on the alerts on X. Observers are speculating about the intentions behind these transfers, with most suggesting a potential liquidation.  10,291 #ETH (34,116,942 USD) transferred from unknown wallet to #Coinbasehttps://t.co/nDVnyKT28v Whale Alert (@whale_alert) July 29, 2024 10,291 #ETH (34,162,130 USD) transferred from unknown wallet to #Coinbasehttps://t.co/Z5vofQNoso Whale Alert (@whale_alert) July 29, 2024 10,323 #ETH (34,492,433 USD) transferred from unknown wallet to #Coinbasehttps://t.co/Z5rp3IHwFe Whale Alert (@whale_alert) July 29, 2024 10,291 #ETH (34,097,937 USD) transferred from unknown wallet to #Coinbasehttps://t.co/dUggaEZ0XM Whale Alert (@whale_alert) July 29, 2024 20,623 #ETH (68,335,696 USD) transferred from Coinbase Institutional to unknown new wallethttps://t.co/62HNL1iGxi Whale Alert (@whale_alert) July 29, 2024 What Does This Mean For ETH? The increase in whale activity comes at a time when Ethereum is experiencing considerable volatility. ETH bulls and bears are currently engaged in a fierce battle for control after the launch of Spot Ethereum ETFs.  Crypto whales have considerable influence over market dynamics. Their actions are closely monitored by retail traders and analysts. As a result, these substantial Ethereum transfers to Coinbase could have significant implications for the cryptocurrency market. When large amounts of ETH move to exchanges, it often signals an intention to sell, which may lead to increased selling pressure. This influx of supply could drive down the price of Ethereum in the short term. Related Reading: Technical Indicators Show Strong Bitcoin Bullishness New ATH On The Horizon? At the time of writing, Ethereum is trading at $3,340 and has struggled to maintain a position above a significant resistance level of $3,357. This resistance point represents a formidable order block, which has consistently posed challenges for bullish investors in the past 30 days. The recent substantial transfers of Ethereum to Coinbase likely contributed to the difficulty in overcoming this resistance.  Despite this, there is a prevailing bullish sentiment within the trading community, with many traders anticipating initial breakouts above key order blocks around $3,357 and $3,540.  In other news, the Ethereum community recently celebrated the cryptocurrency’s 9th birthday. Happy 9th birthday, Ethereum! Looking forward to seeing what the next decade brings. pic.twitter.com/bXq56mIff7 vitalik.eth (@VitalikButerin) July 30, 2024 Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst

Ethereum appears poised for a significant breakout above the highly anticipated $4,000 price threshold. Despite this potential, the cryptocurrency has recently fallen short of the expectations of many enthusiasts and retail traders. The much-hyped launch of Spot Ethereum ETFs, rather than sparking a rally, turned into a classic “sell-the-news” event, leading to disappointment in the [...]

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