The cost of Ethereum cryptocurrency exceeded $ 3000

Ethereum ETH $2,929.98 Bridged Ether (StarkGate) -0.29% Market capitalization $82.76 million VOL. 24 hours $2.8 billion has risen sharply and exceeded $ 3,000, as large holders (whales) became more active and a large number of options expired. Analysts note that massive purchases by large investors and increased interest in derivatives were the main factors behind the breakout.

According to market data, Ethereum has risen by almost 10% over the past 24 hours, and trading volumes have increased significantly. The option contracts that expired at the end of the week led to a massive closure of short positions and a sharp jump in the price. Experts emphasize that the demand from the «whales» reinforced the trend, as they bought the asset in large volumes at key moments of growth.

The situation led to a wave of liquidations in the market, when traders with too much leverage were forced to sell assets, increasing the price’s upward movement. Technical analysis suggests that Ethereum may continue to be highly volatile, as many traders continue to reconsider their strategies after breaking through a key resistance level.

In general, the market dynamics around Ethereum indicate a growing interest of institutional investors and positive expectations for the further development of the network’s ecosystem. Analysts do not rule out new attempts to storm even higher price levels if demand and the overall positive trend in the cryptocurrency market continue.