Santiment data company huet gemellt the rising activity of large key Ethereum wallets since the collapse of FTX earlier this month, most likely leading to a price rise of over 5% in the past 24 hours.
This may be a forerunner of a much bigger price surge, Santiment analysts believe. At present, Ethereum is changing hands at $1,265.
ETH whale and shark addresses surge to new peak
Santiment has tweeted that the number of large key wallets on Ethereum chain has been actively growing after Sam Bankman-Fried filed for FTX’s insolvency. Thus, the amount of wallets holding from 100 to 100,000 Ethereum has reached a 20-month peak after dropping heavily since the FTX scandal and bankruptcy.
🐳🦈 # EthereumD'grouss Schlësseladressen wuessen zënter dem #FTX Debakel am Ufank November. Op der Foto sinn d'Schlësselmomenter wou Hai- a Waladressen accumuléiert a gedumpt sinn. D'Zuel vun 100 ze 100k $ ETH Adressen ass op enger Héicht vun 20 Méint. https://t.co/beawFcBRvi pic.twitter.com/dR8zEqurZQ
- Santiment (@santimentfeed) November 30, 2022
Ethereum may jump 30% if history repeats itself
To cap the aforementioned 20-month high of large Ethereum wallets, Santiment also spread the word that this was likely what pushed the second largest cryptocurrency up 5.4% in the past 24 hours.
The last time the same thing happened and these addresses reached exactly the same level, Ethereum’s price added more than 30% within the next three weeks.
📈 # EthereumD'aktiv Adresse sinn gëschter op säin héchsten Niveau a méi wéi 6 Wochen eropgaang, an dat ass méiglecherweis an de Präiswuesstum vun haut berechent. De 15. Oktober, déi leschte Kéier Adressen op dësem Niveau spiked, de Präis vun $ ETH +30% an den nächsten 3 Wochen sprangen. https://t.co/8LFsUn6Thz Pic.twitter.com/hdekw9em51
- Santiment (@santimentfeed) November 29, 2022
Dan Tapiero bullish on Ethereum
Founder and CEO of 10T Holdings and Gold Bullion, investor Dan Tapiero has taken to Twitter to share his thoughts on the future moves of Ethereum’s price.
He turned out to be very bullish on the cryptocurrency made by Vitalik Buterin’s Ethereum since ETH did not hit a new price low after the FTX scandal. The latter, Tapiero believes, has been the most negative news for the crypto market recently.
I want to be very clear here.
D'Tatsaach, datt # Ethereum could not make a new low in price in the face of the most negative news ( Ftx fraud) of the year is extremely bullish for #Eth no vir.
Yes, sometimes it is that simple. pic.twitter.com/IZPJwvpgDb
- Dan Tapiero (@DTAPCAP) November 30, 2022
Source: https://u.today/ethereum-saw-30-surge-last-time-this-happened