Although Ethereum's price has been the biggest disappointment in the current cycle since last year, several factors suggest potential future growth.
According to LookOnChain's data, Ethereum whales have started to change their strategy and resume buying. The analysis platform revealed that an address associated with Metapha purchased approximately $50 million (about 71 billion won) worth of Ethereum since April 1st.
Another address withdrew nearly $100 million (about 142 billion won) worth of Ethereum from Gate.io, and a third address transferred over 10,000 Ethereum from Bybit.
The re-accumulation by whales is interpreted as a positive signal, as it can reduce immediate selling pressure and stimulate buying sentiment among small investors.
The second indicator suggesting potential price increase for Ethereum is the Market Value to Realized Value (MVRV) price band. This indicator shows that when Ethereum breaks through the bottom like it currently is, it represents the optimal buying opportunity.
Social media analyst Rain explained to his 100,000 followers that Ethereum tends to have recurring cycles. Based on the historical trends of major altcoins, he predicted that Ethereum will regain momentum and target over $10,000. This is expected to mark a turning point in the new market structure, accompanied by new investment themes, capital circulation, and emerging leaders.
A few days ago, CryptoPotatoe reported that various investor groups, including whales, Galaxy Digital, small investors, and ETF investors, sold substantial amounts of Ethereum. However, the buying movements of whales mentioned above suggest that the Ethereum market has reached its limit. In fact, Ethereum has dropped 60% from its December 2024 peak, while Bitcoin, which set new all-time highs, has only fallen 22% from its January peak.
Real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
