In a significant move, Mirana Ventures transferred $600 million in Ethereum to the ByBit exchange. This transaction followed the liquidation of Bitcoin and Tether assets of the same amount, sparking interest among market experts and traders.
ETH Post Major Transactions
Following the transfer to ByBit, Ethereum's price increased to $2,451.36, a 1.1% rise. The ETH-to-BTC price ratio is at 0.02779 BTC, marking a 2.0% increase.
ETH Price Dynamics Amid Consolidation
The current trading range for ETH is between $2,360 and $2,520, with the price resisting the $2,500 level. The value remains stable near the midpoint of the range, suggesting possible consolidation before a further upward move.
ETH Liquidation Trends and Key Price Levels
The ETH Total Liquidations Chart indicates that the price surge from mid-November through early December was correlated with traders taking excessive bullish bets. If ETH holds above $3,500, it may resume testing the $4,000 level.
Institutional portfolio changes, such as those by Mirana Ventures, highlight evolving market trends. If this trend continues, interest in Ethereum investments may grow.
