Ethereum continues rising in worth because the cryptocurrency charts one other 4% on the day and presently sits at $1,600. It seems that whales are stepping in for ETH, and somebody is making significantly massive purchases.
- Tweeting from a sub-account, the CEO of cryptocurrency analytics useful resource CryptoQuant – Ki Younger Ju – mentioned that somebody purchased $1.7 billion value of ETH futures contracts in an hour.
- CryptoPotato lately reported that ETH whale addresses are additionally on the rise within the spot markets – these are entities holding between 1K and 100K ETH. They noticed a pointy improve previously few w weeks after bottoming in Could.
- The cryptocurrency is up round 60% previously week – a rise that got here after a member of the Ethereum Basis – Tim Beiko – revealed a timeline that positioned the Ethereum 2.0 Merge to occur on September nineteenth, barring unexpected circumstances and underneath a ‘mushy’ schedule.