Ethereum Price Recovers Above $3,000 Hurdle Amid Whale Movements
The post Ethereum Price Recovers Above $3,000 Hurdle Amid Whale Movements appeared on BitcoinEthereumNews.com.
Over the past 24 hours, Ethereum has seen a remarkable price growth and bounced back above the $3,000 mark. When writing this article, the cryptocurrency had surged to $3,048.21, a 1.11% gain for the day. This surge past the $3,000 mark shows a high level of bullish sentiment among traders and investors. ETH/USD 24 hr Price Chart (Source: CoinMarketCap) In the price recovery, ETH’s trading volume also increased and rose by 74.73% to $18,148,791,193. That trade volume increase indicates increased interest and trust in Ethereum’s market performance. Concurrently, the market capitalization of Ethereum increased by 2.15% to $366,403,812,856. Golem Transfers 36,000 ETH to Exchanges While this price trend persists, Golem, a pioneer Ethereum-based project that was among the first to conduct an Initial Coin Offering (ICO) on the network, moved more than $100 million in ETH to exchanges last month. The report reveals that Golem collected millions during the ICO mania of 2016 and, to date, has not been able to recover from the losses of its token value, even with plans to develop artificial intelligence tools. Golem, a project that raised 820,000 ETH in ICO in 2016, has transferred 36,000 ETH to Binance, Coinbase, Bitfinex, etc. in the past 37 days, worth about $115 million. Currently, Golem still has 231,400 ETH, worth about $656 million. https://t.co/EjLTyeEAmz — Wu Blockchain (@WuBlockchain) July 8, 2024 According to Arkham, the main wallet of Golem has moved millions of Ethereum coins to other wallets and the latter to exchanges, including Binance, BitFinex, and Coinbase. These transactions, which took place on a daily basis and involved sums of less than $10 million per transaction, are usually linked to sell signals in anticipation of further price declines. Whale Traders Unload 13,680 ETH In addition to Golem’s transfers, two notable traders have unloaded substantial amounts of…
Filed under: News - @ July 9, 2024 9:24 am