Ethereum’s Whales Invest $500 mn In 48 hours
Ethereum (ETH) reached a new 2024 peak of around $3,050 on February 24, indicating a potential bullish outing in the coming week.
Crypto whale investors have switched their focus to ETH after Bitcoin ETFs were released for weekly trading on February 23.
Ethereum has overtaken Bitcoin by more than 8% in the past week, and recent trends among crypto whales suggest ETH is poised to extend its lead over BTC prices in the coming week.
The Top 1,000 ETH wallets held a cumulative opening balance of 69.51 million ETH on Friday, February 23, but have added 170,000 ETH over the weekend, bringing their balances to 69.68 million ETH at press time on Sunday, February 25.
If retail investors and other strategic stakeholders follow the whales’ buying trend, ETH price could have another major bullish outing in the coming week.
(With inputs from Shikha Singh)
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