Over 1.89 million Ethereum addresses have acquired a substantial 52 million $ETH around the $2,350 price range, signaling strong historical demand at this level.
This zone may act as a key support for Ether as it moves forward, providing a foundation for future price stability.
See that large green bubble?
1.89 million Ethereum addresses acquired a substantial 52 million $ETH around the $2,350 range, highlighting strong historical demand at this price level.
This zone could serve as a key support for Ether moving forward. pic.twitter.com/tXWmtCTyqI
— IntoTheBlock (@intotheblock) October 2, 2024
One prominent whale, known as 0xAA1…3eE57, who has made over $32 million in profits from $ETH since September 2023, recently recharged 1,500 ETH to Binance, worth approximately $3.72 million. This action suggests that the whale may be preparing to sell. Currently, the whale holds 14,456 ETH, most of which is staked in LRT protocols and Pendle, highlighting their continued engagement with Ethereum-based protocols.
出货巨鲸 +1 🐋
2023 年 9 月以来凭借 $ETH 获利超 3200 万美金的巨鲸 0xAA1…3eE57 一小时前向 #Binance 充值了 1500 枚 ETH，价值 372 万美金，疑似卖出
该巨鲸目前还持有 14,456 枚 ETH，大多质押在各个 LRT 协议和 Pendle 中；钱包地址 https://t.co/WradYr2TJk https://t.co/wec0l1v8Vo pic.twitter.com/fu5bo4HSFZ
— Ai 姨 (@ai_9684xtpa) October 2, 2024
Whales Sells Off 15,000 ETH As ETFs Data Comes In
In another significant move, an ancient whale who participated in the Ethereum ICO and held 150,000 ETH has sold another 15,000 ETH, worth about $38.07 million. Since September 22, this whale has offloaded a total of 30,000 ETH, worth $77.4 million, at an average price of $2,580, slightly above the current price of $2,491. With 45,000 ETH remaining, further sales could impact the market.
以太坊 ICO 15 万枚 $ETH 的远古巨鲸再次抛售 15,000 枚 ETH（约 3807 万美金），又一个持币地址清仓离场了…
09.22 以来该巨鲸已累计卖出 30,000 枚 ETH，价值 7740 万美金，卖出均价约 $2580（现价 $2,491），目前还剩余 4.5 万枚 ETH
钱包地址 https://t.co/KGyhtavoJi https://t.co/Rlep98XG0d pic.twitter.com/O99hp4UNVw
— Ai 姨 (@ai_9684xtpa) October 2, 2024
Additionally, Ethereum spot ETFs have seen a significant net outflow, totaling $48.519 million on October 1. Specifically, ETHE and FETH experienced outflows of $26.64 million and $24.97 million, respectively, reflecting investor caution amidst market volatility.
On October 1, the total net outflow of Ethereum spot ETF yesterday was 48.519 million US dollars. ETHE and FETH outflowed 26.64 million US dollars and 24.97 million US dollars respectively. https://t.co/Tvs2oCSxTg
— Wu Blockchain (@WuBlockchain) October 2, 2024
As these major players continue to influence the market, the $2,350 price range could provide crucial support for Ethereum, especially as whale activity and ETF outflows shape near-term price action. Investors will be closely monitoring whether this level holds or if further selling pressure will drive prices lower.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/ethereums-2350-range-becomes-key-support-as-whales-and-etfs-drive-market-movement/