- Whale activity and a 79% volume surge suggested potential bullish momentum for Ethereum.
- On-chain metrics remained mixed, but bulls held a slight edge in the Long/Short Ratio.
An Ethereum [ETH] ICO participant, who initially gained 150,000 ETH (now valued at $389.7 million), made a significant move by depositing 3,510 ETH ($9.12 million) into Kraken after remaining inactive for over two years.
This large-scale transaction suggests growing confidence in Ethereum’s future. With Ethereum trading at $2,656.39, up by 3.02% at press time, the market is now focused on whether this whale movement will spark a bullish momentum.
Ethereum’s volume surge: A bullish signal?
Ethereum’s trading volume has seen a sharp increase, rising by 79.30% over the last 24 hours to $28.21 billion at press time.
This surge typically signals a growing appetite among traders, which often leads to…
