Ethereum continues to grow, hitting the $3,000 level for the first time in two years

Macroeconomics and financial markets

Last weekend, on the 24th, the Dow Jones Industrial Average closed down 64.1 points (0.17%) from the previous day, and the Nasdaq index closed down 144.8 points (0.92%).

On the Tokyo stock market, the Nikkei Stock Average was down 53 yen (0.14%) from the previous day.

Among US stocks related to crypto assets (virtual currency), Coinbase fell by 3.9% from the previous day. Mining-related stocks Marathon Digital fell 9.8% and Hut8 fell 7.1%.

CoinPost app (heat map function)

connection:Why Sumitomo Mitsui Card Platinum Preferred is rapidly gaining popularity as a new NISA savings investment

Virtual currency market conditions

In the crypto asset (virtual currency) market, Bitcoin (BTC) rose 0.82% from the previous day to 1 BTC = $52,110.

BTC/USD daily

Intermittent inflows into Bitcoin exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC) have been pushing up market prices, with $2.3 billion inflows over the past week.

The 10 bitcoin ETFs netted +$2.3b last week. For context, that is more than any other ETF (out of 3,400) took in. $IBIT alone was #2. This brings total net to +$5b, which is more than BlackRock as a whole has taken in. Again, this is all net GBTC bleed. Throw that out and the… https://t.co/PlxnfQ7ETf pic.twitter.com/04LTixd3Zt

— Eric Balchunas (@EricBalchunas) February 17, 2024

BlackRock's ETF (IBIT), the largest asset management company, alone has collected $5.2 billion.

According to on-chain analytics firm IntoTheBlock, large investors have been looking to add to Bitcoin (BTC) since early 2024.

According to data from on-chain data provider Santiment, wallets holding between 1,000 and 10,000 BTC have increased their holdings by 248,900 BTC since 2024.

Independent from the impressive volume happening with #Bitcoin #ETF's, there has been a distinct flip in the level of $BTC's supply being held by different sized wallets:

1K-10K $BTC wallets: $12.95B added in 2024
100-1K $BTC wallets: $7.89B dropped in 2024

(Cont) pic.twitter.com/BL7Mrj6kLq

— Santiment (@santimentfeed) February 16, 2024

On the other hand, wallets holding 100 to 1000 BTC have decreased their holdings by $17.89 billion since the beginning of the year, highlighting the difference in investment stance.

connection:A total of 140 billion yen worth of Bitcoin was withdrawn from U.S. Coinbase, perhaps selling pressure is decreasing?

Ethereum hits the $3,000 level

Ethereum (ETH), which ranks second in market capitalization, continued to rise by 2.5% from the previous day, exceeding the 1 ETH = $3,000 level for the first time since April 2022.

The rise is driven by optimism that an Ethereum spot ETF (exchange traded fund) will be approved in the U.S., as well as the Ethereum Dencun update on March 13th aimed at reducing layer 2 transaction fees. There are things that I am holding back from.

On-chain data analysis revealed that Binance whales (large investors) purchased 54,721 ETH (equivalent to $155.7 million) at a price of 1 ETH = $2,845. Funds equivalent to $10 million were also swapped into 3,493 ETH via decentralized exchange (DEX) aggregator 1inch.

This massive whale just apparently bought another 22,719 $ETH ($65.7M) at ~$2,893 in the past 50 minutes, including:
• withdrew 19,226 $ETH ($55.6M) from #Binance
• swapped 10.1M $USDT for 3,493 $ETH via #1icnh

In total, the whale has apparently bought 54,721 $ETH via Binance… https://t.co/5XppfMigdf pic.twitter.com/UCL1VB01lW

— Spot On Chain (@spotonchain) February 19, 2024

Meanwhile, according to Lookonchain, a blockchain analysis platform, Whale, an early investor who participated in the Ethereum (ETH) ICO, transferred half of his holdings (1,732 ETH) to Kraken for the first time in eight years and may have moved to sell. There is sex.

After the price of $ETH surpassed $3,000, an #Ethereum ICO participant woke up after 8.6 years of dormancy and deposited 1,732 $ETH($5.15M) to #Kraken.

He received 3,465 $ETH($10.3M) at #Ethereum Genesis, the ETH ICO price is ~$0.31.https://t.co/K6xOHILdne pic.twitter.com/o50JKxXxzP

— Lookonchain (@lookonchain) February 20, 2024

connection:What is Bitcoin halving?Outlook for 2024 based on past market price fluctuations

Related: Points to note about virtual currency IEOs Domestic and international examples and how to participate

Related: Explaining the advantages of staking and accumulation services and the advantages of virtual currency exchange “SBI VC Trade”

We have introduced the “Heat Map” function to the CoinPost app for investors!
In addition to important news about virtual currencies, you can also see at a glance exchange information such as the dollar yen and price movements of crypto asset-related stocks in the stock market such as Coinbase.

■Click here to download the iOS and Android versions
https://t.co/9g8XugH5JJ pic.twitter.com/bpSk57VDrU

— CoinPost (virtual currency media) (@coin_post) December 21, 2023

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