Ethereum Jumps Over $3,100: Big Buyers Are All In!

Bitcoin, the leading cryptocurrency, has been moving steadily, while Ethereum, the biggest alternative coin, recently crossed the $3,100 mark over a weekend, reaching as high as $3,135.

This surge in Ethereum’s value happened without any specific event driving it, showcasing its strong market presence.

Ethereum has been more profitable than Bitcoin lately, catching the attention of big investors, known as whales. Reports from Lookonchain reveal that these whales have been actively buying up Ethereum.

For example, a whale known as 0x8B94 moved and invested 14,632 ETH, worth $45.5 million, from Binance in just six days. Additionally, two new whale accounts pulled 6,000 ETH, valued at $18.7 million, from Kraken in two days.

The whale accumulated 2,000 $ETH($6.2M) from #Kraken again 10 mins ago and has accumulated 26,380 $ETH($81.77M) at $2,255 since May 24, 2023.

The unrealized profit is $22.3M at the current price.https://t.co/3ToWyQSPvW pic.twitter.com/yIX6lfq7pE

— Lookonchain (@lookonchain) February 26, 2024

Another significant move was by a whale who bought 2,000 ETH, worth $6.2 million, from Kraken, accumulating a total of 26,380 ETH, valued at $81.77 million, since May 24, 2023. This last whale’s investment has grown to be worth $22.3 million with the current Ethereum prices.

Market Performance

As of the latest data, Ethereum’s price is around $3,093. Looking at the broader market, Bitcoin is priced at $51,081.68 with a trading volume of about $14.94 billion over the last 24 hours with a total marketcap of $365B.

It has seen a price increase of roughly 22.89% over the past month. Ethereum, on the other hand, is trading at $3,060.14 with a 24-hour trading volume of about $13.79 billion, marking a significant 35.27% increase in price over the last month.

This trend highlights Ethereum’s impressive performance in the market and its attractiveness to large-scale investors. The activity of these whales, or big investors, suggests a strong belief in Ethereum’s value and potential for future growth.