Amid developments such as the Bitcoin record and the launch of the first US Bitcoin ETF, the world’s second largest cryptocurrency and leading altcoin Ethereum is also making strong moves. ETH price crossed $4,000 and is now approaching its all-time high of $4,400.
Whales are accumulating from the leading altcoin ETH
ETH is trading at a price of $4,224 with a market cap of $498.2 billion at the time of writing. It has increased by 9.5% in the last 24 hours. According to the data, the latest price rally in Ethereum is taking place against the backdrop of strong whale accumulation taking place. As on-chain data provider Santiment reported, Ethereum billionaire whale addresses have accumulated heavily over the past 10 weeks.
Ethereum addresses with the most ETH have steadily accumulated ETH since the beginning of August. Therefore, it is not surprising that the leading altcoin is approaching an all-time high on its own, according to experts. In the last 10 weeks, addresses with between $1 million and $10 million in ETH have accumulated 13.9 percent more coins in their bags.
Ethereum going to $40,000?
As the Ethereum (ETH) price approaches its all-time high, analisdollarser is starting to set strong bullish targets for the world’s second-largest crypto. By comparing the historical ETH/BTC price action, popular analyst Raoul Pal predicts that the Ethereum (ETH) price could reach the $40,000 levels by June. Adding a warning note for investors, Pal said, “This is not certainty. It is a probabilistic outcome. For me, $20,000 in ETH and $200k in BTC is an opportunity. ” he uses.
However, Raoul Pal is not alone in his bullish predictions for Ethereum. Cryptocoin. com
As we reported , technology billionaire Mark Cuban said that Ethereum is the most advantageous coin as an investment. Also, Ethereum continues to reach strong milestones in the decentralized finance (DeFi) game. More than $100 billion worth of coins have been unlocked on DeFi platforms on the Ethereum Blockchain. On the other hand, total value locks (TVL) in Ethereum 2.0 Deposit Contracts recently exceeded $30 billion. Ethereum 2.0 continues to move forward.