Skip to content
Logo
Menu
  • Trending
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
Menu
Ethereum Whales profit from recent price drop to purchase more ETH

Ethereum Whales profit from recent price drop to purchase more ETH

Posted on March 15, 2023

Ethereum Canada Crypto News – During the most recent market downturn, several big whale purchases drove the price of cryptocurrencies back up to the local highs of 2023. On-chain statistics revealed that throughout this time, Ethereum whales who had 1,000 to 10,000 ETH added almost 400,000 ETH to their holdings. The most recent purchase is said to be worth $600 million.

In the most recent crypto market downturn, #Ethereum whales with 1,000 to 10,000 $ETH added over 400,000 #ETH to their holdings, valued about $600,000,000. pic.twitter.com/OMfebJoPVh Ethereum Canada Crypto News.

After falling from a local high of $1,742 on February 16, 2023, Ethereum lost nearly 21% of its value. ETH’s price fall was predictable given its previous price behavior, and a technical signal had been constructed that predicted a 20% price decline.

Ethereum Whales profit from recent price drop to purchase more ETH
Ethereum Whales profit from recent price drop to purchase more ETH

Analysts discovered a death cross technical pattern following the year’s top, which backed the mounting concern of a potential drop following an excellent gain. When an asset’s short-term 50-day moving average crosses below its long-term 200-day moving average, this is known as a death cross.

The market took note of this pattern and dove into a downturn, causing the price of ETH to drop to $1,369 in less than a month. On-chain data showed that the bulls took advantage of this chance to load.

The current financial crisis in the traditional banking sector provides fundamental support to investors, who appear to be adopting cryptocurrencies as an alternative, in addition to technical considerations that are already favoring the bulls.

Prior to this, there had been an increase in anticipation of an interest rate increase from regulators. It provided support for the anticipated cryptocurrency boom in the upcoming months.

The projected bounce when the market recovered following the failure of Silicon Valley Bank appears to have been sparked by the present difficulties faced by major banks. As a substitute and secure location for wealth preservation, investors seem to be turning again to cryptocurrencies.

At the time of writing, Ethereum was trading at $1.670, just 4.27% behind its all-time high.

Ethereum Whales Taking Advantage of Recent Drop to Purchase More ETH | Coin Edition first published here.

Latest Posts

  • Bitcoin increases as bank rescues eliminate haircut risk
  • Aztec declares Canada
  • Will This Cryptocurrency Still Outperform Ethereum This Year After Gaining 150% Already?
  • Polygon (MATIC) is expected to surpass Cardano (ADA) in market cap
Sandy
Sandy
Website | + posts

Welcome to Fluxnet-Canada! Our website is dedicated to providing the latest news and updates related to cryptocurrency. Our team of five members is committed to bringing you the most informative and educational content possible in Canada. Our website provides an extensive range of news articles, including topics such as blockchain technology, cryptocurrencies, exchanges, and regulations. We hope you find our website helpful and informative!

  • Sandy
    https://fluxnet-canada.ca/author/fluxnetcagmail-com/
    A story claims that Terraform Labs workers have had millions of dollars
  • Sandy
    https://fluxnet-canada.ca/author/fluxnetcagmail-com/
    Charles Munger still favors large banks and despises Cryptocurrency
  • Sandy
    https://fluxnet-canada.ca/author/fluxnetcagmail-com/
    Bitcoin Price Prediction as $10 Billion in Trading Volume Arrives?
  • Sandy
    https://fluxnet-canada.ca/author/fluxnetcagmail-com/
    Steals $23M from Bitrue and Ethereum Completes Shanghai Hard Fork

Related

Leave a Reply Cancel reply

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

Latest Posts

  • A story claims that Terraform Labs workers have had millions of dollars
  • Charles Munger still favors large banks and despises Cryptocurrency
  • Bitcoin Price Prediction as $10 Billion in Trading Volume Arrives?
  • Steals $23M from Bitrue and Ethereum Completes Shanghai Hard Fork
  • Ethereum outperforms Bitcoin and rises beyond $2,000 for an eight-month high

Pages

  • Trending
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Archives

  • June 2023
  • April 2023
  • March 2023
  • February 2023

Categories

  • Crypto
  • Trending

Calender

October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Jun    
©2023 News Blog | Design: Newspaperly WordPress Theme