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Ethereum nears $4K breakout amidst heavy accumulation by whales
In a recent development, Ethereum whales have been accumulating a massive amount of the cryptocurrency over the past day. The staggering 6102 ETH tokens worth $23.84 million in value has left many analysts questioning whether this surge could be a precursor to a sustained rally above the $4K mark.
The data suggests that these institutions and large holders are confident in the market’s future value, opting to accumulate Ethereum before it rises higher on its price charts. This increased demand and accumulation among whales is often seen as an indicator of a positive impact on the asset’s price.
Source: ambcrypto.com
