[Analysis] "Ethereum recovers to 3215 dollars…driven by whale buying and a surge in new wallets"
Suehyeon Lee
Summary
- It reported that Ethereum's price rebounded to the mid-3200 dollar range.
- It diagnosed that whale buying and a surge in new wallets drove Ethereum's price recovery.
- The creation of about 190,000 new ETH wallets in one day is analyzed to reflect expansion of the real-use base and expectations of new capital inflows.
Ethereum (ETH) has rebounded to the mid-3,200 dollar range, and analysts say this rebound was caused by whale buying and a surge in new wallets.
On the 4th (local time), Santiment said, "Whale wallets holding 1000~10000 ETH have recently increased purchases en masse, driving Ethereum's price recovery."
Network growth indicators are also showing strength. Santiment said about 190,000 new ETH wallets were created in the past day. This reflects both expansion of the real-use base and expectations of new capital inflows.
Meanwhile, Ethereum is trading on CoinMarketCap at 3205.53 dollars, up 6.15% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
