Ethereum’s price has been a rollercoaster lately, but things are looking up. After a dip, it’s climbed back above $3,800. While short-term price swings are still possible, the overall trend is bullish, especially if it breaks through the $4,000 mark. That would likely boost other cryptocurrencies too.
Whale Alert: $153 Million Ethereum Purchase
Things got even more interesting when a huge Ethereum purchase was revealed. A whopping $153 million worth of ETH was bought through Galaxy Digital’s OTC (over-the-counter) desk and sent to a brand new wallet. This isn’t just some random whale; it shows big institutional investors are seriously betting on Ethereum’s future. The fact that it went through a regulated OTC desk makes it even more significant.
Why the Big Buy?
This massive purchase comes after a period where Ethereum’s price was down and many people were losing faith. But while the average investor was panicking, smart money was quietly buying up ETH at lower prices. This shows confidence in Ethereum’s long-term potential, particularly its role in the growing world of tokenized finance.
Ethereum’s Price Action: Awaiting Breakout
Currently, Ethereum is trading just below $3,860. It’s holding above its key moving averages, which is a good sign. Trading volume is also picking up, suggesting more people are interested. If it can break through the $3,860 resistance, it could easily hit $4,000 and beyond. However, if it fails, we might see another price drop.
