Ethereum (ETH) exhibits a bullish stance towards the end of the year, changing hands at $2,293.56 at press time. The second-largest digital coin jumped to monthly highs of $2,362 on 11 December before slight dips.
ETH 30D Chart on Coinmarketcap
ETH’s current upside performance has coincided with massive actions from cryptocurrency whales. Dip-pocketed investors have shifted more than $995m in Ether within the previous day.
Whales move enormous Ethereum amounts
The latest ETH transfer by dominant holders saw 14,679 tokens (worth around $34.15M) sent from an unknown address to exchange Coinbase. That came after another wallet transferred Ether worth $347M (150,000 coins) to the same trading platform.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 150,000 #ETH (347,010,084 USD) transferred from unknown wallet to #Coinbasehttps://t.co/gLa9hs4mru
— Whale Alert (@whale_alert) December 22, 2023
A similar move witnessed 149,999 Ether (worth $347M) sent to Coinbase. Also, another whale sent 50,000 coins, worth more than $116M, from an unidentified address to Kraken.
Furthermore, an unknown wallet sent 15,887 Ether (worth around $36.6M) to Coinbase. In addition, four transactions, three of which transferred assets worth over $88M (each 12,800 Ether) to Beacon Depositor. Recently, the Beacon Depositor recorded a transfer worth $26.94M (11,712 tokens).
Meanwhile, all the highlighted ETH whale transfers total above $995M.
Ethereum’s future
While ETH prices could be far from 2021 all-time highs, the altcoin retains a bright future, and some believe it might outshine Bitcoin. Renowned crypto analyst Michael van de Poppe believes Ethereum will outperform in Q1 2024.
The #Bitcoin dominance is likely peaking pre-Bitcoin halving.
That means that Q1 is going to give a great return for investments in the $ETH ecosystem.
I’m positioned and ready. pic.twitter.com/Iqlxkojz4w
— Michaël van de Poppe (@CryptoMichNL) December 22, 2023
Michael stated that Bitcoin will hit its peak performance in January, which will mean funds shifting toward the altcoin market. He added that the initial quarter of 2024 could present lucrative returns for investments within the Ethereum ecosystem.
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