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Ethereum price left the $3,100 level behind on Sunday and reached its highest level in the last year at $3,184. While these levels create great excitement among investors in the market, on the other hand, whales appear to be expecting a big jump, leading them to make larger purchases. The ETH price continues its upward trend, influenced by the upcoming Denchun upgrade and the movements of BTC. In the midst of this bull run, we identified three whale wallets that are buying ETH as if there were no tomorrow.
Ethereum Whales and Their Purchases
Incredible transactions continue to occur one after another recently. In this context, an ETH whale purchased 6,000 ETH worth millions of dollars from the Kraken exchange just last week.
The mentioned whale wallet contains a total of 26,380 ETH, valued at approximately $80.69 million. This investment demonstrates the confidence of ETH whales in cryptocurrency and reflects their optimistic outlook for a potential future rise.
In another community of transactions, a purchase of 3,000 ETH worth $9 million caught attention. These purchases, made through the Kraken exchange, continue to attract the attention of the entire market. The wallet with the address f7936eb4f723076d has entered the radar of investors as an important address.
Current Status of ETH Price
ETH price, which rose above the $3,100 level with a 4% increase last Sunday, experienced a 2.03% decrease today but later recovered. ETH, which turned from the rising trend line in recent hours, then accompanied the spectacular rise in BTC price.
Before the price recovery, there was talk that ETH could retest the $3,000 support, but it now seems to be moving away from this area.
On the other hand, the upcoming Denchun upgrade is also thought to contribute to the price increase. During this period, it is not considered likely that the uptrend will lose its momentum.
Grayscale’s Approach to Denchun
According to a statement by Grayscale, the recent rise in Ethereum is linked to the Denchun upgrade scheduled for March 13, 2024. The upgrade expected after the process is anticipated to increase transaction efficiency and create a positive impact.
With the Denchun upgrade, Ethereum aims to be able to compete more comfortably with faster networks like Solana, which is seen as its biggest competitor and even killer.
