Five Fresh Wallets Accumulated 76,987 ETH Worth $285 Million in One Day, Before ETH Enters Banana...

Five fresh wallets accumulated 76,987 ETH worth $285 million in one day

This move was made before ETH enters the bullish banana zone

The price of ETH is expected to hit exceptionally high ATHs soon

The anticipation for ETH to higher higher prices soon continues to grow since BTC hit $123,000 ATH. Now, despite BTC trading at $118,000 and ETH trading at $3,600, expectations are still high for ETH to reclaim the $4,000 price range. Recently, ETH has been outperforming BTC, showing traders a bright green flag for ETH price to pump. In under a day, five fresh wallets accumulated 76,987 ETH worth $285 million

Five Fresh Wallets Accumulated 76,987 ETH Worth $285 Million

Ever since this bull cycle began, analysts, investors, and traders have patiently been awaiting a strong ETH price pump. The first is to see ETH set new ATH prices like Bitcoin already has this bull cycle, and the second is that this ongoing bull cycle’s altseason peak phase can finally begin. However, this wait has been a long one due to BTC pumping earlier than expected this bull cycle

In detail, for the first time ever, the price of BTC set a new ATH before the Bitcoin Halving event. Often, Q1 following a Bitcoin Halving year is when the price of altcoins starts to pump. This year, however, the price of BTC went into a prolonged correction phase in Q1, leading to prices dumping hard for about 3 months. Eventually, BTC pumped again, set a new ATH and shifted the crypto market into a much healthier state

During this time, the price of ETH finally bottomed at $1,700. Soon, the price of ETH rallied quickly until it shot past $2,000 and $2,700. After another short correction, it reclaimed the $3,000 price range and is now closer than ever to the $4,000, bringing it as close as it has been to its last ATH price of $4,800 set last bull cycle. With sentiments growing more bullish for ETH, ETH accumulation has been steadily growing stronger as well

To highlight, ETH whales and institutions like BlackRock have been heavily accumulating ETH since the start of the year, when ETH bottomed. However, despite prices almost at $4,000 now, the ETH accumulation from these big parties has not slowed down in the least. As we can see from the post above, five fresh wallets accumulated 76,987 ETH worth $285 million in a single day

ETH Price Chart Approaches Banana Zone

The increased ETH accumulation comes as no surprise when one is familiar with the ETH price chart and the many bullish indicators present. As we can see from the post above, this reputed analyst shares a chart explaining how ETH has yet to enter the banana zone. He claims that ETH is going through a correction after pulling a 70% rally, and there will be some sideways accumulation before ETH price breaks above $4,100; a violent rally will follow after.