Ethereum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-sees-volatility-as-veteran-wallet-transfers-a-sizable-stake" rel="noopener noreferrer nofollow">Ethereum Sees Volatility as Veteran Wallet Transfers a Sizable Stake</a><br></p>
<p style="text-align: justify">Ethereum recently breached the $3,000 threshold only to face a swift downturn, paralleling <a href="https://en.bitcoinhaber.net/unprecedented-bitcoin-blockchain-inscription-costs-anonymous-wallet-66000" rel="noopener noreferrer nofollow">Bitcoin</a>‘s decline. In a remarkable development, a dormant Ethereum wallet from the network’s early days, holding a substantial amount of the cryptocurrency, became active and moved a significant sum to a major exchange.</p>
<h2 id="unexpected-ethereum-movement-shakes-market">Unexpected Ethereum Movement Shakes Market</h2>
<p style="text-align: justify">The wallet in question, which had not seen activity for over 8 years, transferred 1,732 ETH to Kraken, totaling a whopping $5.15 million at the time. Initially acquiring 3,465 ETH during Ethereum’s initial coin offering (ICO) at a mere $0.31 each, the wallet’s holdings, ideally, would stand at around $10.3 million today. The sudden reactivation of the wallet and the transfer could signal potential sell-off risks for Ethereum’s market, which hovers above $2,900.</p>
<h2 id="market-sentiment-and-ethereum-s-performance">Market Sentiment and Ethereum’s Performance</h2>
<p style="text-align: justify">This old holder’s return to the fray might introduce additional supply and liquidity, potentially swaying market sentiment. Conversely, the move could also be seen as a vote of confidence in Ethereum, potentially emboldening other investors. However, apprehensions linger about the possibility of sell-offs from the long-standing holder, which could exert downward pressure on Ethereum’s price.</p>
<p style="text-align: justify">Following this incident, Ethereum’s price retreated below $3,000, currently standing at $2,906.32, marking a 3.62% decrease within 24 hours. Despite the drop, the number of Ethereum holders has risen, suggesting a heightened interest in the cryptocurrency.</p>
<p style="text-align: justify">Conversely, a notable drop in Ethereum-based NFT transactions has been observed, potentially contributing to the cryptocurrency’s struggles. Ethereum’s price dynamics continue to fluctuate as market players digest these latest developments.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-sees-volatility-as-veteran-wallet-transfers-a-sizable-stake" rel="noopener noreferrer nofollow">Ethereum Sees Volatility as Veteran Wallet Transfers a Sizable Stake</a></h5>

Ethereum Sees Volatility as Veteran Wallet Transfers a Sizable Stake

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