According to the Cryptocurrency -analyst company Lookonchain, a mysterious election bought 30,000 Ethereum (ETH) for $ 54.9 million. The elections bought the coins when the asset acted at $ 1830 on April 27. The elections sold 30,000 ETH for $ 78.63 million when the asset hit $ 2621. The investor made a profit of $ 23.73 million. The elections had also bought 600 Bitcoin (BTC) for $ 56.94 million. BTC is now worth $ 66.5 million and earns a $ 9.6 million profit. Unlike the ETH holdings, BTC remains unsold.
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ETH’s price may also have been run by BTC’s latest rally. The original Krypton hit a maximum time of $ 111,814 on May 22. BTC’s rally is probably due to increased institutional investments. Blackrock alone has bought more than $ 3 billion from BTC since May 2.
Is it a good time to buy Ethereum?
ETH collected two-digit percentage points on the daily chart after its pectra upgrade. The 24-hour rally has dropped to just 0.2%. It seems that the rally dies out. ETH can take up the pace in the coming weeks if Bitcoin (BTC) continues to rally. The original crypto is only 0.6% from its peak. BTC that hits a new top can trigger a rally for Ethereum (ETH).
Coincex -analyst does not anticipate that ETH is breaking the $ 3000 mark right now. The platform expects the asset to trade at $ 2797.61 on June 15. ETH’s price will rally with about 5% if it hits $ 2797.61 mark.
