Major cryptocurrency holders bought Ethereum for a record $ 500 million per day

The main altcoin has been losing value in recent weeks, recently reaching a global low of $ 1650. According to analysts, cryptocurrency whales have decided to use this opportunity to buy a promising asset at lower prices.

Ali Martinez, a well-known crypto expert, said that institutional investors bought 260,000 ETH for a total of $ 425 million yesterday. On Monday, two large Ethereum holders transferred about 300,000 tokens to Coinbase in two transactions. These transactions were among the largest in the ETH ecosystem this year.

In technical terms, ETH $3,408.35 Bridged Ether (StarkGate) 1.87% Market capitalization $0.29 billion VOL. 24 hours $2.28 billion demonstrates strength, with many indicators confirming this thesis. Ali Martinez believes that the main altcoin is creating a springboard for further upward momentum closer to the $ 2000 level.

The expert noted that to maintain the local upward trend, Ethereum needs to stay above $ 1630. However, it is necessary to pay attention to the resistance that the asset may face near $ 1715. According to Ali Martinez, if ethereum overcomes this resistance, we can expect further momentum up to $ 2000.

As a reminder, Ethereum co-founder Віталій бутерін" href="https://noworries.media/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin called the centralization of nodes one of the biggest problems of the network. According to representatives of the Ethereum Foundation, true decentralization is impossible until node operators are able to run Ethereum on low-cost hardware. According to Buterin, it will take 10−20 years to support fully verified nodes that can be launched from a phone.