Massive ETH Accumulation By Crypto Whales Ahead Of Ethereum Shanghai Upgrade
Whale data reveals massive whale activity in the last few days. Crypto whales are purchasing ETH worth millions ahead of the most-awaited Ethereum Shanghai upgrade that will enable staked Ethereum withdrawals.
Whale Alert reports several transfers of ETH from crypto exchanges to wallets in the last 24 hours. Recently, 11,529 ETH worth $20 million was transferred from Bitfinex. Another transfer of 13,341 ETH worth $23 million from Bitfinex was also noted.
A few hours ago, a whale moved 72,999 ETH worth $129 million from a wallet to another wallet. It is suspected that the wallets belong to the same whale as both have almost the same type of tokens. The receiving wallet then transferred 83,000 ETH worth $145 million to an unknown wallet.
More ETH transfers including ETH 20,899 from Coinbase, 12,499 ETH from Binance, 21,451 from Coinbase, and 14,070 ETH from Bitfinex were also reported by Whale Alert.
These Ethereum (ETH) purchases by whales continued since the start of the week. On Thursday, a whale purchased 167,696 ETH worth 293 million from Gemini.
Glassnode data reveals the number of ETH withdrawals from crypto exchanges hitting a 3-month high of 3,181.030. Moreover, the number of “non-zero addresses” for Ethereum has reached an ATH of 96,112,215.
Ethereum Price To Hit $2000 Near Shanghai Upgrade
The Ethereum Shanghai mainnet upgrade is scheduled to happen on April 12 at 10:27:35 PM UTC, as per the announcement by Ethereum core developers.
Moreover, the ETH staked on the Beacon chain has also jumped to 17,852,023 worth $31.31 billion amid the rise in staking activity due to the Shanghai upgrade, as per Etherscan.
ETH price is currently trading at $1,756, up 1% in the last 24 hours. The 24-hour low and high are $1,730 and $1,780, respectively. Crypto analysts including Michael van de Poppe are bullish on ETH breaking $2000.
Also Read: Cardano Reaches Historic Milestone, Popular Analyst Predicts ADA Price To Hit $15
- Is Changpeng “CZ” Zhao Returning To Binance? Probably Not
- XRP News: Ripple-Backed Evernorth Amasses Over $1B in XRP Ahead of Nasdaq Listing
- Crypto Market Rally: BTC, ETH, SOL, DOGE Jump 3-7% as US China Trade Talks Progress
- Indian Court Declares XRP as Property in WazirX Hack Case
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
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.
