Ethereum

Solana

Block

Despite a weekly pullback in Ethereum’s price trajectory, the world’s second-largest crypto by global market cap has once again sparked substantial investor attention. Today, on May 3, Ethereum’s price not only regained an upward momentum but also surpassed the significant $3K mark, a positive development that has reinvigorated the market, instilling a sense of optimism among investors.&nbsp;
This upward trend, coupled with a considerable spike in whale activity, has ignited a flurry of interest surrounding the token’s future price movements. Nearly 36,000 ETH was shifted over the past day, with whales dumping and buying and buying the so-called ‘eternal Solana rival’ token in hand.&nbsp;
<h2 id="span-data-preserver-spaces-true-eth-whale-activity-a-closer-look-span">ETH Whale Activity: A Closer Look</h2>
Insights from on-chain analysis&nbsp;platforms reveal that a total&nbsp;of 36,762 ETH was moved in the past day. Notably, <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ethereum/0x7c8cc8801366015349c4a14d0f33b2595e05e37d36e5876515374e2475e683c6" target="_blank">whale</a> 0xf83c… made a significant move by transferring 25,772 ETH to Coinbase Institutional, a prominent player in the crypto industry. In contrast, whale 0x0b4… acquired 10,990 ETH from Coinbase during the same period, showcasing contrasting strategies.
These transactions, coming in&nbsp;tandem with Ethereum’s recent turbulent price action, have ignited mixed sentiments within the broader crypto market. While one whale continued to buy the token amid a broader market dip, the other whale dumped colossal amounts of the same token, underscoring a bearish sentiment amid <a href="https://coingape.com/michael-saylor-attacks-ethereum-calling-it-a-security-disapproves-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">ETH’s status as a security</a> saga.
Nonetheless, the price trajectory’s upward movement at press time skewed the scale&nbsp;more&nbsp;toward the optimistic&nbsp;side.
Also Read: <a href="https://coingape.com/jack-dorseys-block-boosts-its-bitcoin-bet-with-10-gain-reinvestment/" target="_blank" rel="noopener noreferrer nofollow">Jack Dorsey’s Block Boosts Its Bitcoin Bet With 10% Gain Reinvestment</a>
<h2 id="span-data-preserver-spaces-true-eth-price-jumps-span">ETH Price Jumps</h2>
As of writing, <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s price</a> jumped 3.08% in the past 24 hours and currently sits at $3.001. The token witnesses a high price flux movement at the $3K mark, with its monthly charts illustrating a consolidatory phase.
Crypto market enthusiasts continue to extensively eye the token for further price action shifts as the security lawsuit and a post-BTC halving rally remain poised to impact the token’s market dynamics.
It’s worth noting that XRP, a Ripple Labs-backed token, has been on a sluggish price trajectory ever since it entered a legal tussle with the <a href="https://coingape.com/ripple-vs-sec-xrp-defies-crypto-market-selloff-ahead-key-filing-date/" target="_blank" rel="noopener noreferrer nofollow">U.S. SEC</a>. On the other hand, a post-halving rally usually pushes a parabolic uptrend in <a href="https://coingape.com/xrp-btc-could-bounce-after-bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">altcoins</a> as well, historical data suggests, although it’s not always a guarantee of future price movements.
Also Read: <a href="https://coingape.com/michael-saylor-attacks-ethereum-calling-it-a-security-disapproves-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor Attacks Ethereum Calling It A Security, Disapproves spot ETF</a>
The post <a href="https://coingape.com/ethereum-price-whales-move-36k-eth-price-regains-momentum-what-next/" rel="noopener noreferrer nofollow">Ethereum Price: Whales Move 36K ETH As Price Regains Momentum, What’s Next?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ethereum Price: Whales Move 36K ETH As Price Regains Momentum, What’s Next?

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