Ethereum is showing a significant upward trend, attracting attention from traders and analysts alike. Currently, it is priced at $4,278.72, marking a 1.53% increase in recent hours.
Ethereum Price Dynamics
Ethereum continues to trade at $4,278.72, signaling strong buying interest in its digital assets. The market capitalization stands at $516.47 billion, while the daily trading volume exceeded $35.95 billion.
Whale Activity
According to Lookonchain data, an early ICO participant who purchased 20,000 ETH in 2014 for $6,200 sold 2,300 ETH for $9.91 million. The investor retains 1,623 ETH valued at $6.99 million. Analysts emphasize that such large transfers can temporarily impact market sentiment despite Ethereum's high liquidity.
Technical Indicators and Market
Glassnode statistics indicate that Ethereum's MVRV ratio is below peak levels, suggesting potential asset appreciation before reaching overvalued status. Additionally, the number of addresses holding over 10,000 ETH has risen to 868,886, demonstrating increased confidence among large holders. ETF data shows 13 straight weeks of net inflows totaling $326.83 million, highlighting strong institutional demand.
The Ethereum market displays signs of growth and increased whale activity, which could signify positive future developments. Investors remain vigilant of market shifts, suggesting new opportunities for ETH.
