{"id":576064,"date":"2024-02-21T01:00:31","date_gmt":"2024-02-21T01:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=576064"},"modified":"2024-06-11T08:32:54","modified_gmt":"2024-06-11T08:32:54","slug":"ethereum-eth-price-reaches-3000-after-two-years-more-excitement-to-come","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-price-reaches-3000-after-two-years-more-excitement-to-come\/","title":{"rendered":"Ethereum (ETH) Price Reaches $3,000 After Two Years, More Excitement To Come?"},"content":{"rendered":"<p style=\"font-weight: 400\">On Tuesday, Ether (ETH), the second largest cryptocurrency by market capitalization, touched its highest level since April of 2022. Ethereum\u2019s native cryptocurrency momentarily surpassed the $3,000 before quickly facing a price pullback.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-berstein-eth-price-10000\/\" target=\"_blank\" rel=\"noopener \">Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000<\/a><\/div>\n<h2 style=\"font-weight: 400\">Ether Briefly Touches The Sky<\/h2>\n<p style=\"font-weight: 400\">The whole crypto market has been buzzing with a bullish sentiment in recent weeks after the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-spot-etfs-2-2-billion\/\" target=\"_blank\" rel=\"noopener \">massive inflows<\/a> coming into the recently launched Spot Bitcoin ETFs (exchange-traded funds).<\/p>\n<p style=\"font-weight: 400\">Since the approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC), eyes have moved to the possibility of other spot crypto-based ETFs in other cryptocurrencies like ETH and XRP.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>            vs         $3,000<br \/>   ( \u2022_\u2022)                          (\u2022_\u2022 )<br \/>   ( \u0e07 )\u0e07                          \u0b67( \u0b67 )<br \/>  \/\ufe36                              \/\ufe36<\/p>\n<p>&mdash; Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/15831480?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 20, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">The speculation surrounding the approval of Ether ETFs in May has been one of several actors fueling the recent price surge. The expectation for the approval and launch of the Bitcoin-based investment products filled the crypto market with positive sentiment on the BTC\u2019s price uptrend.<\/p>\n<p style=\"font-weight: 400\">As previously <a href=\"https:\/\/wncen.com\/news\/ethereum\/betting-big-on-ethereum-options-traders-target-4000-mark-amid-market-optimism\/\" target=\"_blank\" rel=\"noopener \">reported<\/a>, Options traders expect the cryptocurrency\u2019s price to reach $4,000 in the upcoming months. This predicted price range would come closer to the token\u2019s all-time high (ATH) of $4,800, seen during the previous market bull run in November 2021.<\/p>\n<p style=\"font-weight: 400\">However, the first test in a journey to $4,000 presents as the $3,000 resistance level. Analysts have evaluated Ether\u2019s movements as its momentum reignited and considered the $3,000 a possible milestone after the digital asset showed a strong resistance in the $2,800 support zone.<\/p>\n<p style=\"font-weight: 400\">Today, the second-largest cryptocurrency surpassed this key resistance zone momentarily, an achievement not seen since the end of April 2022. However, Ethereum\u2019s native token could not maintain momentum for long and faced a price pullback to the $2,900 level.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: Ethereum surpasses $3,000<\/p>\n<p>&mdash; Watcher.Guru (@WatcherGuru) <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/25864648?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 20, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"font-weight: 400\">Whales Are pulling In Both Directions<\/h2>\n<p style=\"font-weight: 400\">Recent developments in Ether\u2019s price have had many investors express a positive outlook for the second-largest cryptocurrency. Some analysts even made a bullish prediction on the Altcoin market in general.<\/p>\n<p style=\"font-weight: 400\">Whales have also reacted to ETH\u2019s recent uptrend. According to an <a href=\"https:\/\/twitter.com\/spotonchain\/status\/13680926\" target=\"_blank\" rel=\"noopener nofollow\">X post<\/a> by Spot on Chain, a whale allegedly bought 54,721 ETH at $2,845 24 hours before the post. These transactions accounted for approximately $155.7 million and signaled a positive sentiment toward the asset by the large players in the market.<\/p>\n<p style=\"font-weight: 400\">However, a dormant whale who participated in Ethereum\u2019s ICO woke up after 8 years, according to the blockchain analyst platform Lookonchain.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">After the price of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a> surpassed $3,000, an <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Ethereum<\/a> ICO participant woke up after 8.6 years of dormancy and deposited 1,732 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>($5.15M) to <a href=\"https:\/\/twitter.com\/hashtag\/Kraken?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Kraken<\/a>.<\/p>\n<p>He received 3,465 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>($10.3M) at <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Ethereum<\/a> Genesis, the ETH ICO price is ~$0.31.<a href=\"https:\/\/t.co\/K6xOHILdne\" rel=\"nofollow\">https:\/\/t.co\/K6xOHILdne<\/a> <a href=\"https:\/\/t.co\/o50JKxXxzP\" rel=\"nofollow\">pic.twitter.com\/o50JKxXxzP<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/66126944?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 20, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">The whale seemingly deposited about half of its ETH holdings into Kraken after ETH\u2019s price surpassed $3,000. The transaction saw the transfer of 1,732 ETH worth approximately $5.15 million to the crypto exchange.<\/p>\n<p style=\"font-weight: 400\">This transaction has raised a slight concern over the possibility of a massive <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-hits-52000-high-are-these-giant-sell-offs-crash\/\" target=\"_blank\" rel=\"noopener \">sell-off<\/a> that could affect ETH\u2019s uptrend. Crypto investors now stay alert of large holders trying to offload their assets to profit from the market upsurge.<\/p>\n<h2 style=\"font-weight: 400\">ETH Price Performance<\/h2>\n<p style=\"font-weight: 400\">At the time of writing, ETH is trading at $2,923.50, representing a 1.6% decrease in the last hour. Despite this, the price has increased 11.2% in the last week.<\/p>\n<p style=\"font-weight: 400\">More notably, Ether\u2019s daily trading volume has shown a 47.10% increase, at $20.6 billion in the last 24 hours, suggesting a rise in market activity. Similarly, ETH comfortably maintains its spot as the second-largest cryptocurrency by market capitalization, with a 0.82% increase in the last day, totaling $351.29 billion.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-grinds-higher-3k\/\" target=\"_blank\" rel=\"noopener \">Ethereum Price Grinds Higher, Will ETH Bulls Be Able to Hit $3K Milestone?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-576066 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?resize=1023%2C518\" alt=\"ETH, ETHUSDT, Ether, Ethereum\" width=\"1023\" height=\"518\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?w=1023 1023w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ETHUSDT_2024-02-20_11-34-32.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">ETH is trading at $2,920.46 in the hourly chart. Source: BTCUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/02hBrS90\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, Ether (ETH), the second largest cryptocurrency by market capitalization, touched its highest level since April of 2022. Ethereum\u2019s native cryptocurrency momentarily surpassed the $3,000 before quickly facing a price pullback. Related Reading: Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000 Ether Briefly Touches The Sky The whole crypto market has been buzzing with a bullish sentiment in recent weeks after the massive inflows coming into the recently launched Spot Bitcoin ETFs (exchange-traded funds). Since the approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC), eyes have moved to the possibility of other spot crypto-based ETFs in other cryptocurrencies like ETH and XRP. $ETH vs $3,000 ( \u2022_\u2022) (\u2022_\u2022 ) ( \u0e07 )\u0e07 \u0b67( \u0b67 ) \/\ufe36 \/\ufe36 &mdash; Binance (@binance) February 20, 2024 The speculation surrounding the approval of Ether ETFs in May has been one of several actors fueling the recent price surge. The expectation for the approval and launch of the Bitcoin-based investment products filled the crypto market with positive sentiment on the BTC\u2019s price uptrend. As previously reported, Options traders expect the cryptocurrency\u2019s price to reach $4,000 in the upcoming months. This predicted price range would come closer to the token\u2019s all-time high (ATH) of $4,800, seen during the previous market bull run in November 2021. However, the first test in a journey to $4,000 presents as the $3,000 resistance level. Analysts have evaluated Ether\u2019s movements as its momentum reignited and considered the $3,000 a possible milestone after the digital asset showed a strong resistance in the $2,800 support zone. Today, the second-largest cryptocurrency surpassed this key resistance zone momentarily, an achievement not seen since the end of April 2022. However, Ethereum\u2019s native token could not maintain momentum for long and faced a price pullback to the $2,900 level. JUST IN: Ethereum surpasses $3,000 &mdash; Watcher.Guru (@WatcherGuru) February 20, 2024 Whales Are pulling In Both Directions Recent developments in Ether\u2019s price have had many investors express a positive outlook for the second-largest cryptocurrency. Some analysts even made a bullish prediction on the Altcoin market in general. Whales have also reacted to ETH\u2019s recent uptrend. According to an X post by Spot on Chain, a whale allegedly bought 54,721 ETH at $2,845 24 hours before the post. These transactions accounted for approximately $155.7 million and signaled a positive sentiment toward the asset by the large players in the market. However, a dormant whale who participated in Ethereum\u2019s ICO woke up after 8 years, according to the blockchain analyst platform Lookonchain. After the price of $ETH surpassed $3,000, an #Ethereum ICO participant woke up after 8.6 years of dormancy and deposited 1,732 $ETH($5.15M) to #Kraken. He received 3,465 $ETH($10.3M) at #Ethereum Genesis, the ETH ICO price is ~$0.31.https:\/\/t.co\/K6xOHILdne pic.twitter.com\/o50JKxXxzP &mdash; Lookonchain (@lookonchain) February 20, 2024 The whale seemingly deposited about half of its ETH holdings into Kraken after ETH\u2019s price surpassed $3,000. The transaction saw the transfer of 1,732 ETH worth approximately $5.15 million to the crypto exchange. This transaction has raised a slight concern over the possibility of a massive sell-off that could affect ETH\u2019s uptrend. Crypto investors now stay alert of large holders trying to offload their assets to profit from the market upsurge. ETH Price Performance At the time of writing, ETH is trading at $2,923.50, representing a 1.6% decrease in the last hour. Despite this, the price has increased 11.2% in the last week. More notably, Ether\u2019s daily trading volume has shown a 47.10% increase, at $20.6 billion in the last 24 hours, suggesting a rise in market activity. Similarly, ETH comfortably maintains its spot as the second-largest cryptocurrency by market capitalization, with a 0.82% increase in the last day, totaling $351.29 billion. Related Reading: Ethereum Price Grinds Higher, Will ETH Bulls Be Able to Hit $3K Milestone? ETH is trading at $2,920.46 in the hourly chart. Source: BTCUSDT on TradingView.com Featured image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":576067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,87551,16163,4854,1946,78803],"class_list":["post-576064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-performance","tag-eth-price","tag-ether","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>ETH Reaches $3,000 After Two Years, More Excitement To Come?<\/title>\n<meta name=\"description\" content=\"Ether (ETH) recently surpassed the $3,000 level amid spot ETH approval speculation and whales big movements, but failed to mantain momentum.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Garcia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1a5c5c83a8ac34388cefe7d0e708bab3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1a5c5c83a8ac34388cefe7d0e708bab3?s=96&d=mm&r=g\",\"caption\":\"Rubmar Garcia\"},\"description\":\"Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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