.png)
Will These Ethereum Whale Transfers Lower The Chances of Recovery?
The post Will These Ethereum Whale Transfers Lower The Chances of Recovery? appeared on BitcoinEthereumNews.com. Ethereum traded at $3K, down by 12.33% over the past week. Project Golem, a 2016 Ethereum ICO participant, transferred 36,000 ETH over the past month. Ethereum, the largest-capped altcoin, marks the slightest recovery back to $3,000 with a minute spike of 1.25% in the last 24 hours. Alongside Bitcoin’s dip to $53.4K, Ethereum bottomed at $2.8K last week, creating a panic in the market. Mt. Gox and the German Government were among the instigators of selling pressure on Bitcoin. Meanwhile, the Ethereum-based project Golem is expected to potentially add to selling pressure on ETH. Golem, an early Ethereum ICO participant, has transferred over $100 million worth of Ethereum (36,000 ETH) to exchanges like Binance, Coinbase, Bitfinex, and others over the past 37 days. Currently, Golem holds 231,400 ETH, valued at $705.5 million. ETH Whales’ Play in the Last 24H Two traders unloaded a total of 13,680 ETH, worth approximately $41 million, over the past 24 hours. The first trader, smartestmoney.eth, deposited 6,440 Ethereum ($19.5 million) to the crypto exchange Binance. As per Spot On Chain, the whale accumulated a profit of $20.6 million. Meanwhile, the second trader, an inactive whale wallet ‘0x742..’, deposited 7,240 ETH ($21.4 million) to the Kraken exchange. This whale held these tokens for around 1.5 years, and the long-term profit was estimated at $12.83 million, reflecting a 149% gain. At the time of writing, the asset traded at $3,047, with a market cap of $366 billion. Meanwhile, the daily trading volume recorded a 77.85% increase and stood at $18.47 billion, according to CMC data. Will ETH Rebound to $3.5K this Week? Over the past week, the token was down by 12.30%. Similarly, in the last month, the Ethereum price has observed a 17.33% decline. Analyzing the 24-hour ETH price chart, the daily relative strength index (RSI)…
The post Will These Ethereum Whale Transfers Lower The Chances of Recovery? appeared on BitcoinEthereumNews.com.
Ethereum traded at $3K, down by 12.33% over the past week. Project Golem, a 2016 Ethereum ICO participant, transferred 36,000 ETH over the past month. Ethereum, the largest-capped altcoin, marks the slightest recovery back to $3,000 with a minute spike of 1.25% in the last 24 hours. Alongside Bitcoin’s dip to $53.4K, Ethereum bottomed at $2.8K last week, creating a panic in the market. Mt. Gox and the German Government were among the instigators of selling pressure on Bitcoin. Meanwhile, the Ethereum-based project Golem is expected to potentially add to selling pressure on ETH. Golem, an early Ethereum ICO participant, has transferred over $100 million worth of Ethereum (36,000 ETH) to exchanges like Binance, Coinbase, Bitfinex, and others over the past 37 days. Currently, Golem holds 231,400 ETH, valued at $705.5 million. ETH Whales’ Play in the Last 24H Two traders unloaded a total of 13,680 ETH, worth approximately $41 million, over the past 24 hours. The first trader, smartestmoney.eth, deposited 6,440 Ethereum ($19.5 million) to the crypto exchange Binance. As per Spot On Chain, the whale accumulated a profit of $20.6 million. Meanwhile, the second trader, an inactive whale wallet ‘0x742..’, deposited 7,240 ETH ($21.4 million) to the Kraken exchange. This whale held these tokens for around 1.5 years, and the long-term profit was estimated at $12.83 million, reflecting a 149% gain. At the time of writing, the asset traded at $3,047, with a market cap of $366 billion. Meanwhile, the daily trading volume recorded a 77.85% increase and stood at $18.47 billion, according to CMC data. Will ETH Rebound to $3.5K this Week? Over the past week, the token was down by 12.30%. Similarly, in the last month, the Ethereum price has observed a 17.33% decline. Analyzing the 24-hour ETH price chart, the daily relative strength index (RSI)…
What's Your Reaction?
