{"id":522971,"date":"2023-03-14T12:35:32","date_gmt":"2023-03-14T12:35:32","guid":{"rendered":"https:\/\/wncen.com\/?p=522971"},"modified":"2023-03-14T12:31:34","modified_gmt":"2023-03-14T12:31:34","slug":"ethereum-eth-continues-rally-as-whales-goes-on","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-continues-rally-as-whales-goes-on\/","title":{"rendered":"Ethereum (ETH) Continues Rally As Whales Goes On Buying Spree, $1,700 Next?"},"content":{"rendered":"
While the rest of the crypto market has been in an upward trend over the past few days, the Ethereum (ETH) spike might have just been fueled by the asset\u2019s recent whale accumulation spree.\u00a0\u00a0<\/span><\/p>\n Over the past three days, between Sunday and Tuesday, Ethereum has seen a spike in price regaining the major losses in its value last week. ETH has soared from a low ranging in the $1,400 region as of March 11 to <\/span>trade above $1,600<\/span><\/a>, at the time of writing.<\/span><\/p>\n The crypto market has been on a <\/span>bullish trend<\/span><\/a> for the past few days, and with Ethereum being the second-largest crypto by market cap, the ETH surge can be attributed to many factors. However, the most notable factor so far behind ETH’s spike can be linked to several whales buying up a large amount of ETH.<\/span><\/p>\n According to a Santiment report\u00a0<\/span>shared<\/span><\/a> by crypto analyst Ali Charts, Ethereum whales who once had a balance of 1,000 to 10,000 ETH have now added a massive 400,000 ETH to their ETH balance amid the market’s recent downward trend. The total amount of the added ETH is estimated to be worth about $600,000,000 and has been attributed to the current ETH surge.<\/span><\/p>\n <\/p>\n Notably, Ethereum whales have since been on a buying spree over the past weeks. NewsBTC recently reported citing a Santiment report that Ethereum whales with non-exchange addresses <\/span>added more than 25 million ETH<\/span><\/a> to their balance, a figure that was last seen in 2016.<\/span><\/p>\nWhales Buying Spree On ETH<\/span><\/h2>\n
ETH whales go on buying spree | Source: Santiment<\/a><\/pre>\n