Crypto Whales Scoop Up 280,000 ETH in a Rapid Buying Spree
A well-known crypto analyst has highlighted a surge in Ethereum (ETH) accumulation by large-scale investors, revealing a significant influx of activity in the market.
Over just four days, crypto whales have reportedly purchased over 280,000 ETH, worth approximately $1 billion. Ethereum is currently trading at $3,725, reflecting a modest 1.5% increase over the past 24 hours.
Institutional interest in Ethereum also appears to be growing. The London-based Farside Investors noted that Ethereum-focused exchange-traded funds (ETFs) have seen increasing inflows, with a total net inflow of $576 million as of November 29, 2024.
Turning attention to Bitcoin , the same analyst suggested that historical patterns point to a potential year-end price exceeding $100,000.
READ MORE:
AI Trading Bot Boosts Crypto Portfolio by Over 122,000%Past data shows that Bitcoin has consistently rallied in December following U.S. presidential elections, with gains of 30% and 46% in the last two cycles. If the trend holds, BTC could reach between $125,000 and $140,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin mining proposed as a solution to UK wind energy waste
Share link:In this post: UK grid operator spent £1 billion on managing grid congestion due to excess renewable energy. Marathon Digital CEO recommends that energy providers should tap into Bitcoin mining for using excess energy. Bitcoin mining is seeing local adoption for its use in managing grid congestion issues.
What Coinbase listings say about crypto in the US
Since Trump’s win, Coinbase has made 16 listing announcements specific to the US
BlackRock’s Bitcoin ETF Now Holds 500,000 BTC, Worth $47.7B
With institutional ownership at 24% as of Q3 2024, IBIT is set for continued growth.
CreatorBid Taps io.net’s GPU Network for AI Model Scaling
Trending news
MoreCrypto prices
More
