{"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

Whales Buying Spree On ETH<\/span><\/h2>\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

\"Ethereum<\/p>\n

ETH whales go on buying spree | Source: Santiment<\/a><\/pre>\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>\n

Related Reading: Ethereum Price Holds Strong At $1,650 But Risk of Pullback Increases<\/a><\/div>\n

According to the report, in 2016, when the top wallets held this much ETH, the price of ETH surged by over 1,000%, from a meager $0.93 to over $12 by the time the rally was done. Meanwhile, Ethereum whales have not been focused on ETH alone as they have also <\/span>expanded interest to other altcoins<\/span><\/a> in the market such as Shiba Inu (SHIB) and Polygon (MATIC).<\/span><\/p>\n

Ethereum Continues Rally, $1,700 Next?<\/span><\/h2>\n

Despite the fact that there is a reason for a <\/span>decline in price<\/span><\/a> given the US ongoing bank crisis, ETH and the rest of the crypto market have only continued to show a bullish trend since Sunday. Over the past three days, Ethereum has added over $30 billion to its market cap, surging from a March 11 market cap low of $174 billion to $206 billion, as of today.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Whales Shake Off Market Uncertainty, Break 7-Year Accumulation Record<\/a><\/div>\n

This surge comes after ETH initially showed exposure to the negative news in the industry last week alongside the rest of the crypto market. However, with the ongoing ubiquitous rally, ETH has been quick to recover from the major losses experienced last week.<\/span><\/p>\n

\"Ethereum
Ethereum (ETH) price) is moving sideways on the 4-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

At the time of writing, ETH trades at $1,690, looking to break above $1,700. With whales currently participating in an accumulation spree on ETH, the asset could soon revisit the $1,700 mark for the first time since the February surge.\u00a0\u00a0<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"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 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 trade above $1,600, at the time of writing. Whales Buying Spree On ETH The crypto market has been on a bullish trend 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. According to a Santiment report\u00a0shared 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. ETH whales go on buying spree | Source: Santiment 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 added more than 25 million ETH to their balance, a figure that was last seen in 2016. Related Reading: Ethereum Price Holds Strong At $1,650 But Risk of Pullback Increases According to the report, in 2016, when the top wallets held this much ETH, the price of ETH surged by over 1,000%, from a meager $0.93 to over $12 by the time the rally was done. Meanwhile, Ethereum whales have not been focused on ETH alone as they have also expanded interest to other altcoins in the market such as Shiba Inu (SHIB) and Polygon (MATIC). Ethereum Continues Rally, $1,700 Next? Despite the fact that there is a reason for a decline in price given the US ongoing bank crisis, ETH and the rest of the crypto market have only continued to show a bullish trend since Sunday. Over the past three days, Ethereum has added over $30 billion to its market cap, surging from a March 11 market cap low of $174 billion to $206 billion, as of today.\u00a0 Related Reading: Ethereum Whales Shake Off Market Uncertainty, Break 7-Year Accumulation Record This surge comes after ETH initially showed exposure to the negative news in the industry last week alongside the rest of the crypto market. However, with the ongoing ubiquitous rally, ETH has been quick to recover from the major losses experienced last week. At the time of writing, ETH trades at $1,690, looking to break above $1,700. With whales currently participating in an accumulation spree on ETH, the asset could soon revisit the $1,700 mark for the first time since the February surge.\u00a0\u00a0 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":520342,"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":[8323,1946,40670,83668],"class_list":["post-522971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-matic","tag-shib"],"acf":[],"yoast_head":"\nEthereum (ETH) Continues Rally As Whales Goes On Buying Spree, $1,700 Next?<\/title>\n<meta name=\"description\" content=\"While the rest of the crypto market has been in an upward trend over the past few days despite a reason for a decline, the Ethereum 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum (ETH) Continues Rally As Whales Goes On Buying Spree, $1,700 Next?","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-eth-continues-rally-as-whales-goes-on\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-eth-continues-rally-as-whales-goes-on\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/todd-cravens-QnBrjY-nFUs-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/todd-cravens-QnBrjY-nFUs-unsplash-2.jpg?fit=1920%2C1275"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","matic","shib"],"dateCreated":"2023-03-14T12:35:32Z","datePublished":"2023-03-14T12:35:32Z","dateModified":"2023-03-14T12:35:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum (ETH) Continues Rally As Whales Goes On Buying Spree, $1,700 Next?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-eth-continues-rally-as-whales-goes-on\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-eth-continues-rally-as-whales-goes-on\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/todd-cravens-QnBrjY-nFUs-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/todd-cravens-QnBrjY-nFUs-unsplash-2.jpg?fit=1920%2C1275\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"matic\",\"shib\"],\"dateCreated\":\"2023-03-14T12:35:32Z\",\"datePublished\":\"2023-03-14T12:35:32Z\",\"dateModified\":\"2023-03-14T12:35:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/todd-cravens-QnBrjY-nFUs-unsplash-2.jpg?fit=1920%2C1275","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=522971"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/520342"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=522971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=522971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=522971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}