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A dormant Ethereum whale has resurfaced, sparking intrigue as the price of the world’s largest altcoin rallies amidst a broader market surge.
According to Lookonchain, this whale amassed 398,889 ETH – worth $2.4 million at the time – between January 18 and March 10, 2016, at an average price of just $6 per ether. The wallet had remained inactive for over eight years until November 7, 2024, when it began offloading its holdings.73,356 ETH, which is currently valued at $224.42 million. Following the sale, its stash has reduced to 325,533 ETH, still worth a staggering $1.1 billion.
The funding rates are currently moderately positive, which indicates that long-position traders dominate. This suggests a market sentiment favoring an uptrend in the short term. Additionally, Ethereum’s estimated leverage ratio has reached a new all-time high of over 0.40, indicating a rise in leveraged positions as investors engage in more risk-taking within the derivatives space.a new all-time high of $263 on November 22nd, surpassing its previous peak over three years ago.
A slow 2023 followed, complicated by the SEC’s assertion that SOL was a security, which raised regulatory concerns. However, following an explosive growth phase, Solana has made a remarkable comeback, setting a new price record.What Is Sui Network : The Ultimate Guide in 2024One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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