Ethereum Attracts New Whales Amid Price Surge

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The crypto waters witnessed new ETH whales emerge, making substantial purchases on the reputable US-based exchange, Coinbase. This massive buy-in comes at a time when the Ethereum price is cruising at a higher altitude, making the scenario all the more riveting. This post will dive into the specifics of these hefty purchases, the price elevation of Ethereum, and the ripples they are creating in the crypto ocean.

TL;DR:

New Ethereum whales emerge, purchasing large ETH amounts on Coinbase.
A notable withdrawal of 86,700 ETH from exchanges spotted.
Ethereum price increases by 7.5%, riding the positive market sentiment.
Crypto market buzz, especially around Bitcoin’s potential ETF approval, possibly driving Ethereum’s attractive performance.
Whale activity and price upswing signals a bullish outlook for Ethereum.

Whale Watch:

Blockchain sleuth @OnchainDataNerd cast light on a mesmerizing spectacle – four new whales scooping up substantial ETH chunks. Three of these colossal crypto creatures collectively bagged 47,760 ETH, translating to a cool $82.97 million at the purchase time. Not to be left behind, another fresh wallet snagged 8,310 ETH from Coinbase, ringing up at $15.09 million. This scenario evokes an exciting narrative of growing confidence among hefty investors as Ethereum sails through bullish waters.

1 hour ago, Fresh Whale withdrew 8.31K $ETH ($15.09M) from #coinbase at $1816.

There have been 3 Fresh Wallets jointly accumulated a total of 47.76K $ETH ($82.97M) in the last 24H.

Bullish 🚀 pic.twitter.com/sIzlMci76V

— The Data Nerd (@OnchainDataNerd) October 24, 2023

Price Tide:

The Ethereum price didn’t just hold still; it surged by a robust 7.5% over the last 24 hours. This surge isn’t sailing solo; it’s in good company with Bitcoin, which also reveled in a price uptick of 9.73% within the same period. The whispers of a possible Bitcoin spot ETF approval seem to be stirring the crypto waters, leading to these price elevations.

Conclusion:

The emergence of new ETH whales and the notable price surge sketch a bullish narrative for Ethereum. As the crypto tide rises, propelled by the growing fervor around potential Bitcoin spot ETF approval, it’s a spectacle worth keeping an eye on for both seasoned sailors and novices in the crypto voyage.

Source: UToday

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