Cryptocurrency has seen a steady rise. Many assets made significant gains during the day. While the Bitcoin community waited to see if Bitcoin (BTC), would reach $100,000, a small portion was counting the seconds until Ethereum (ETH), reached $4,000. The odds seemed to be in favour of Ethereum (ETH), but a new challenge was presented.
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Ethereum’s price range
Ethereum, the second-largest cryptocurrency has risen by more than 30% in just one month. This asset has risen to $3,420. The ETH eco-system needed this rise as it had barely seen gains in the last few years. This altcoin remains about 31% under its historic high of $4.891, which was reached around three years ago.
ETH’s price was $3,364.10 at the time of this article, following a 7.62% increase over the previous 24 hours. Ethereum must surge over 18% in order to reach the $4,000 mark.
The market capitalization of Ethereum has also seen a significant increase. At the moment, the value of altcoins is $405 billion.
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What is this Whale Major Hurdle all about?
The actions of Ethereum’s largest holders may impact the market’s sentiment despite the positive price movement. Lookonchain claims that after eight years of inactivity, a notable whale is selling a large amount of Ethereum.
Between January and March 2018 this whale acquired 398,889 Ethereum, at an average price of $6. As of today, this whale is currently holding 325.533 ETH worth $1.1 billion and selling 73.356 ETH worth $224.42million. The market was further worried, but some remain optimistic about ETH’s rise.
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Source: watcher.guru
