Whale Purchases Over $79.2 Million Worth Of Ethereum

The on-chain analytics platform Loononchain took to Twitter early this morning to share some insights about Ethereum (ETH). According to the post, a whale bought a total of 47,729 ETH, which is worth about $79.2 million, from Coinbase and Gemini during the recent ETH price increases. In addition to this, the whale also bought about 6,108 ETH after the ETH price drop over the last day.

ETH price vs whale buying price (Source: Twitter)

The largest altcoin by market cap is one of the many top 10 cryptos in the red for today. Data from CoinMarketCap indicates that ETH is trading hands at $1,662.16 after a 1.30% drop in price over the last day. The altcoin’s weekly performance, on the other hand, still looks rather good as ETH is still up by more than 7% over the last seven days.

ETH also strengthened against its biggest competitor, Bitcoin (BTC) throughout the last day by about 2.36%. The altcoin reached a low of $1,636.17 and a high of $1,736.80 over the same time period.

ETH’s 24-hour trading volume is in the red zone and currently stands at $11,543,402,541 after a more than 5% decrease since yesterday. In terms of market cap, ETH stands at $202,663,671,484.

Ethereum / Tether US 1D (Source: TradingView)

ETH is currently trading around the support at $1,629.73. If the altcoin can close today’s trading session above this level, it is likely that ETH could make an upward move. The fact that ETH’s 20-EMA is still positioned bullishly above the 50-EMA means that there could be enough bullish momentum to push the ETH price a bit higher again.

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