ETH Up 5% As Ethereum Whales Turn Active Once Again

Bhushan Akolkar
January 5, 2023 Updated June 16, 2025
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After facing strong selling pressure over the last week, the world’s second-largest crypto market has registered a bounce recently. Ethereum (ETH) is currently trading 5% up at a price of $1253 with a market cap of $153 billion.

The recent price jump in ETH is due to the renewed whale activity in Ethereum. In the last 24 over, over 600 ETH transactions worth more than $100K have taken place on the Ethereum blockchain. From the dip buys on December 16, the ETH whale transactions have reached their highest levels. On-chain data provider Santiment explained:

As #altcoins have heated up, #Ethereum quietly rebounded back above $1,260 for the 1st time in 3 weeks. Though not quite at the level of the big whale dip buys on December 16th ($ETH’s local price bottom), whales are showing increased interest again.

Courtesy: Santiment

The last year of 2022 witnessed one of the harshest crypto winters in the history of the markets. ETH along with several other altcoins witnessed as much as 70% price corrections during the last year. Coming into 2023, the Ethereum co-founder has shared his bullish outlook for the platform.

Vitalik Buterin Shares His Bullish Outlook for Ethereum

While we are entering a phase of major global macro uncertainty, Ethereum co-founder Vitalik Buterin has shared his bullish outlook for the platform development going ahead.

The Ethereum co-founder has confirmed the launch of the Ethereum Improvement Protocol (EIP) 4884 sometimes ahead this year. Responding to a post by Balaji Srinivasan, the former technology officer at Coinbase, Vitalik Buterin said that he was looking forward to reaching the “basic roll-up” milestone as outlined in the ETH roadmap.

However, the Ethereum chief also pointed out several areas where crypto needs fixing and solutions. This includes making user accounts more secure for average users along with scaling, privacy, and user experience. Vitalik Buterin firmly believes that decentralized finance (DeFi) will be a major part of the future financial system.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.