Wednesday, July 23, 2025
No Result
View All Result
DOLLAR BITCOIN
Shop
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
DOLLAR BITCOIN
No Result
View All Result
Home Ethereum

Ethereum: How whale activity can pave way for high ETH prices

n70products by n70products
February 15, 2024
in Ethereum
0
Ethereum: How whale activity can pave way for high ETH prices
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



  • Shopping for sentiment was dominant within the derivatives market.
  • Most market indicators seemed bearish and steered a worth drop. 

Because the market turned bearish in the previous few hours, Ethereum [ETH], like most cryptos, additionally fell sufferer to a worth correction. The token’s worth plummeted to $2,601 on the thirteenth of February 2024.

In the meantime, a whale continued to build up extra ETH, hinting that there have been possibilities of a development reversal. 

Is shopping for stress on Ethereum excessive?

AMBCrypto reported earlier how Ethereum traders loved earnings final week because the token’s worth surged by greater than 15%. Nevertheless, within the final 24 hours, the token’s worth has dropped.

As per CoinMarketCap, on the time of writing, ETH was buying and selling at $2,644.49 with a market capitalization of over $317 billion. Whereas all this occurred, a whale continued to extend its holdings.

Lookonchain posted a tweet on 14th February highlighting an fascinating whale exercise. As per the tweet, a whale has withdrawn almost 40k ETH, which had been value over $99.5 million, from a number of exchanges.

The withdrawals started on the first of February 2024 at a mean worth of $2,492.

A whale is accumulating $ETH and going lengthy $ETH by revolving loans on #Spark!

The whale has withdrawn 39.9K $ETH($99.5M) from #Binance, #Bybit, #OKEx and #Bitfinex since Feb 1 at a mean worth of $2,492, and borrowed 56.8M $DAI from #Spark.https://t.co/9EQSrwHnJD pic.twitter.com/6CydURt2pc

— Lookonchain (@lookonchain) February 13, 2024

Since a whale continued to stockpile, AMBCrypto checked Santiment’s knowledge to search out the broader market development. Our evaluation revealed that whale exercise across the token was excessive as its variety of whale transaction counts elevated.

In truth, the whales had been actively shopping for ETH, which was evident from the rise in its provide held by high addresses. Nevertheless, promoting sentiment remained dominant within the total market. This was the case as ETH’s provide on exchanges went up final week and as did its change influx. 

Ethereum ETH 11.52.37 14 Feb 2024

Supply: Santiment

Nonetheless, issues within the derivatives market seemed optimistic for ETH. AMBCrypto’s have a look at CryptoQuant’s knowledge revealed that Ethereum’s funding charge was excessive, that means that long-position merchants had been dominant and had been prepared to pay short-position merchants.

Moreover, ETH’s taker purchase/promote ratio additionally remained inexperienced. This clearly steered that purchasing sentiment was dominant within the derivatives market. 

Screenshot 2024 02 14 at 11.56.33 AM

Supply: CryptoQuant

What to anticipate from ETH

Since a couple of of the metrics seemed optimistic for ETH, we then checked its day by day chart to search out out whether or not a bull rally is feasible anytime quickly. 


Is your portfolio inexperienced? Examine the Ethereum Profit Calculator   


As per the evaluation, ETH may showcase a couple of slow-moving days earlier than beginning a bull rally. 

The token’s worth touched the higher restrict of the Bollinger bands, which indicated that promoting stress may enhance. Its Relative Energy Index (RSI) additionally registered a downtick, additional suggesting a slight worth drop within the coming days. 

ETHUSD 2024 02 14 12 01 06

Supply: TradingView

 

Earlier: Bitcoin: How a higher-than-expected CPI could affect BTC
Subsequent: BlockDAG: Can this new 1000x coin outperform Cardano And Solana?





Source link

Tags: ActivityETHEthereumHighpavePricesWhale
Previous Post

The most valuable AI use cases for business

Next Post

Ethereum Bulls Keep Pushing, Why ETH Could Soon Test $3K

Next Post
Ethereum Bulls Keep Pushing, Why ETH Could Soon Test $3K

Ethereum Bulls Keep Pushing, Why ETH Could Soon Test $3K

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Premium Content

Unichain, Berachain lead blockchain growth in past month — Nansen

Unichain, Berachain lead blockchain growth in past month — Nansen

March 10, 2025
Billionaire Sam Altman’s Worldcoin (WLD) Introduces New Ethereum Layer-2 Blockchain ‘World Chain’

Billionaire Sam Altman’s Worldcoin (WLD) Introduces New Ethereum Layer-2 Blockchain ‘World Chain’

April 17, 2024
Ethereum (ETH) Struggles To Break Past $2,600: What’s Driving ETH Down?

Ethereum (ETH) Struggles To Break Past $2,600: What’s Driving ETH Down?

August 31, 2024
Decentralized Social Network Token DEGEN Drops 27% in Days Following New Coinbase Listing

Decentralized Social Network Token DEGEN Drops 27% in Days Following New Coinbase Listing

October 18, 2024
Exploring Bitcoin’s scalability – Lightning Network and beyond in 2025?

Exploring Bitcoin’s scalability – Lightning Network and beyond in 2025?

January 2, 2025
Ethereum Price Eyes Key Breakout—Will Momentum Lead to a Surge?

Ethereum Price Eyes Key Breakout—Will Momentum Lead to a Surge?

February 20, 2025

Recent Posts

  • How Ripple Is Taking On SWIFT To Grab 14% Market Share As XRP Price Surges
  • FBI Ends Probe Into Kraken Co-Founder: Report
  • Walmart is selling the latest Apple Pencil Pro for the exact same price as the older Apple Pencil 2nd Gen

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Blog
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

How Ripple Is Taking On SWIFT To Grab 14% Market Share As XRP Price Surges

How Ripple Is Taking On SWIFT To Grab 14% Market Share As XRP Price Surges

July 23, 2025
FBI Ends Probe Into Kraken Co-Founder: Report

FBI Ends Probe Into Kraken Co-Founder: Report

July 23, 2025

© 2023 Dollar-Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2023 Dollar-Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
💵 Turn Every Dollar Into Crypto Rewards! Wirex lets you spend dollars or bitcoin — and get up to 8% back in crypto instantly. 💸 Exclusive offers dropping soon — stay tuned!
“Offers Launching Soon”
This is default text for notification bar
Learn more
Go to mobile version