Ethereum Regains $2,000 High as Whales Make Subtle Waves

By Crypto News Land
10 days ago
  • Ethereum reclaims $2,000 high, exhibiting 6.10% growth from November 17.
  • ETH whales begin accumulating after a two-month hiatus.
  • Massive transactions by whales withdrawing profits indicate market activity amid the ETH price surge.

In a weekend surge, Ethereum (ETH) made a resounding comeback, reclaiming the coveted $2,000 mark on the Bitstamp exchange. This surge signified a notable 6.10% growth from its standing on November 17th, marking a substantial resurgence for the second-largest cryptocurrency in the market.

This bullish momentum was accompanied by a subtle yet significant shift in Ethereum’s market landscape. Notably, major ETH holders have reinitiated their accumulation strategies after a hiatus spanning two months. An analyst observes a slow yet consistent uptick in ETH accumulation among these prominent investors, suggesting an undercurrent of confidence and interest in Ethereum’s potential trajectory.

Source: ali_charts

Highlighting this growing interest, Whale Alert, a renowned crypto tracker, documented noteworthy ETH transactions originating from Bitfinex to undisclosed blockchain addresses. Notably, transactions involving 21,229 ETH worth $42,454,140 and 19,764 ETH evaluated at $39,157,392 were identified. The movement of these substantial sums to fresh wallets indicates strategic purchases, potentially earmarked for long-term storage in cold wallets.

However, amidst this accumulation phase, another facet came to light. As Ethereum’s price surged past $2,000, several of these whales made decisive moves to capitalize on profits. Whale Alert’s data showcased three significant transactions channeling ETH to top exchanges like Bitfinex and Coinbase. Noteworthy among these were transactions involving 18,373 ETH, 18,095 ETH, and 15,000 ETH, collectively valued at over $65 million. These sizable withdrawals indicate a strategic play by investors to leverage their gains amid the rising market valuation of Ethereum.

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