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Ethereum Whales Keep Accumulating as ETH Price Approaches $3,500
The price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, surged by roughly 2% over the past 24 hours, recovering in tandem with other major altcoins. Bitcoin, the top cryptocurrency by market cap, surged to as high as $105,079 earlier today.
As Ethereum’s price approaches the psychological barrier of $3,500, it appears that whales are continuing their accumulation spree. According to recent data, large-scale investors have been steadily purchasing ETH at the current levels, which could be a sign that they believe in the asset’s long-term potential.
This trend is particularly noteworthy considering the asset’s relatively high volatility over the past few weeks. Despite numerous price swings, Ethereum whales continue to accumulate their holdings, indicating a strong buying pressure.
It remains unclear whether this accumulation will continue or if it will lead to a new wave of price growth. However, as ETH nears $3,500, investors should keep a close eye on its movements and be prepared for potential fluctuations in the market.
For more information about Ethereum and other cryptocurrencies, stay tuned for further updates from U.Today!
Source: u.today
