October 1, 2022

What indicates a possible decrease in the rate of Ethereum

Two large transfers were noticed on the coin network, the total amount of which exceeds 1 million ETH.

Twitter bot Whale Alert recorded a transfer of 790 thousand Ethereum by the organizers of the PlusToken financial pyramid, which is considered to be involved in the fall in the value of Bitcoin from $ 14,000 to $ 7,000. In the case of the sale of such a quantity of coins, the altcoin exchange rate could plummet, said Su Zhu, the head of Three Arrows Capital.

“PlusToken scammers account has been activated again. What if they will use transactions in Ethereum for pump and dump, ”wrote the entrepreneur.

A sharp decline in the rate of Ethereum may alsobring another event. On December 16, data analyst Alex Svanevik noticed that one of the early investors transferred 300,000 ETH within a month. In total, more than 530 thousand coins were stored in his wallet, which have been inactive since July 2015.

At the moment, the price of Ethereum is $ 127.4, in 24 hours it has increased by 4.6%. The daily trading volume of altcoin increased by 11.5% and reached $ 11.5 billion.

Yesterday, December 18, about a possible cost reductionEthereum was warned by Coinspeaker analyst Aziz Mustafa. In his opinion, the altcoin exchange rate will soon drop to the accumulation zone, which is at the level of $ 100. In early December, the opposite scenario was suggested by Michael van de Poppe, a specialist at the Amsterdam Stock Exchange. He noted that the cryptocurrency Vitalik Buterin broke the downtrend in relation to Bitcoin, which lasted for two years.