Crypto Whales Scoop Up 280,000 ETH in a Rapid Buying Spree
03.12.2024 11:00 1 min. read Alexander Stefanov
A well-known crypto analyst has highlighted a surge in Ethereum (ETH) accumulation by large-scale investors, revealing a significant influx of activity in the market.
Over just four days, crypto whales have reportedly purchased over 280,000 ETH, worth approximately $1 billion. Ethereum is currently trading at $3,725, reflecting a modest 1.5% increase over the past 24 hours.
Institutional interest in Ethereum also appears to be growing. The London-based Farside Investors noted that Ethereum-focused exchange-traded funds (ETFs) have seen increasing inflows, with a total net inflow of $576 million as of November 29, 2024.
Turning attention to Bitcoin, the same analyst suggested that historical patterns point to a potential year-end price exceeding $100,000.
Past data shows that Bitcoin has consistently rallied in December following U.S. presidential elections, with gains of 30% and 46% in the last two cycles. If the trend holds, BTC could reach between $125,000 and $140,000.
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