Whale Alert, a well-known cryptocurrency tracking tool, has seen at least six significant Ethereum transactions, totaling about 240,000 Ethereum. Most of these cryptocurrency transfers were made to reputable cryptocurrency exchanges.
While everything has been going on, the price of Ethereum has somewhat declined after rising earlier this week, but it has since started to rise once more.
https://x.com/whale_alert/status/1755172783452049885?s=20
Almost 240,000 Ethereum on move
The aforementioned cryptocurrency tracker has discovered anonymous whales transferring substantial quantities of Ethereum, the second-largest coin, to Bitfinex, Coinbase, and Binance.
14,322 ETH and 83,200 ETH were transferred in total; the latter was transferred from Binance to Binance Deacon Deposit. 49,999 ETH in total were transferred across anonymous cryptocurrency wallets. Regarding the others, they were transferred from unidentified blockchain wallets to the aforementioned cryptocurrency trading sites.
https://x.com/whale_alert/status/1755160948703219907?s=20
The entire amount of fiat money moved with the Ethereum is an astounding $518,691,800.
Ethereum ready for $3,500: Top analyst
According to prominent Amsterdam-based cryptocurrency trader and analyst Michael van de Poppe, Ethereum is expected to reach its full potential and turn into “a market-mover” in the upcoming months. The analyst acknowledges that this is the reason he has invested in the Ethereum ecosystem.
Van de Poppe recently tweeted that he thought Ethereum was set to start moving towards $3,500.
https://x.com/CryptoMichNL/status/1754954693971718268?s=20
The second most popular cryptocurrency saw a rise of more than 4.4% since the beginning of the week, pushing the coin to the $2,384 price level. On January 30, ETH was also visible there following a sharp increase of 6.64%. However, following today’s surge, Ethereum has retreated by 1.30% and is currently trading at $2,357.
Many in the cryptocurrency world anticipate that ETH will reach $4,000 this year, as per the massive financial giant Standard Chartered’s projection. Since the Securities and Exchange Commission regulator is expected to approve a spot Ethereum ETF filed for by a few significant spot Bitcoin ETF issuers, including BlackRock, the bank designated May 23 as the day by which this prediction will be realised.
Lark Davis clarified that financial institutions would start hoarding enormous quantities of ETH and removing it from the market into cold storage in anticipation of the establishment of an Ethereum ETF.
