Coinspeaker
Crypto Whales Drive Ethereum (ETH) Price with Massive Transactions amid Price Volatility
In recent weeks, the price of Ethereum (ETH) has been very unstable, with significant swings happening in a short amount of time. At first, the cryptocurrency’s value fell by 3.1% to $3,411, but it quickly rebounded again to $3,591, a substantial 5.3% gain.
This sudden change in price occurred simultaneously with a significant amount of activity from “whales”, or large cryptocurrency holders. One wallet in particular, identified as “0x347”, has drawn the attention of market watchers.
Ethereum Whale Activity amid Market Swings
Whale behavior stands out in light of recent swings in Ethereum’s price. Notably, on the Binance market, “0x347” made the highest deposit to date – $32 million, or 9,000 ETH.
The substantial amount of Ethereum increased “0x347’s” holdings to 29,738 ETH, or almost $106 million. The whale expects this transaction to generate an en
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