Amid developments such as the Bitcoin record and the launch of the first US Bitcoin ETF, the world’s second largest cryptocurrency and leading altcoin Ethereum is also making strong moves. ETH price crossed $4,000 and is now approaching its all-time high of $4,400.
Whales are accumulating from leading altcoin ETH
ETH is trading at a price of $4,224 with a market cap of $498.2 billion at the time of writing. It has increased by 9.5 percent in the last 24 hours. According to the data, the recent price rally in Ethereum is taking place against the backdrop of strong whale accumulation that has taken place. As on-chain data provider Santiment reported, Ethereum billionaire whale addresses have accumulated heavily over the past 10 weeks.
Ethereum addresses with the most ETH in them have steadily accumulated ETH since the beginning of August. Therefore, it is not surprising that the leading altcoin is approaching an all-time high on its own, according to experts. In the last 10 weeks, addresses with between $1 million and $10 million in ETH have accumulated 13.9 percent more coins in their bags.
Ethereum going to $40,000?
As the Ethereum (ETH) price approaches its all-time high, analysts are starting to give strong bullish targets for the world’s second-largest crypto. By comparing the historical ETH/BTC price action, popular analyst Raoul Pal predicts that the Ethereum (ETH) price could reach the $40,000 levels by June. Adding a warning note for investors, Pal said, “This is not certainty. It is a probabilistic outcome. For me, $20,000 in ETH and $200,000 in BTC is an opportunity.” uses expressions.
However, Raoul Pal is not alone in his bullish predictions for Ethereum. cryptocoin.com As we have also reported, technology billionaire Mark Cuban said that Ethereum is the most advantageous coin as an investment. Also, Ethereum continues to reach strong milestones in the decentralized finance (DeFi) game. More than $100 billion worth of coins have been locked on DeFi platforms on the Ethereum Blockchain. On the other hand, the total value locked in Ethereum 2.0 Deposit Contracts (TVL) recently exceeded $30 billion. Ethereum 2.0 also continues to move forward.
Contact us to be instantly informed about the last minute developments. twitter‘also follow and Telegram join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.