Ethereum Surge Amid Ethereum Mega Whales Continue Buying

Ethereum sees major growth with whale investments nearing $1B, outshining Bitcoin in a dynamic crypto market.

A lot of attention has been focused on Ethereum whales’ activities. These well-known investors have been buying Ethereum aggressively; during the past month, the total amount of their acquisitions has approached an astounding $1 billion. This pattern is evident even though Ethereum’s market performance is a little behind that of its rival, Bitcoin (BTC).

According to cryptocurrency expert Ali Martinez, these whales increased the number of ETH tokens in their wallets by almost 410,000 in December. Ethereum’s price during the most recent accumulation period was almost $2,300, a weekly decline of more than 2%. In spite of this, Ethereum’s value has grown dramatically over the last year—roughly 78.5%—while Bitcoin has performed better—its value has surged by 170% during the same period.

The bitcoin investing market has been booming over the last 12 months, with over $2.2 billion flowing into a variety of investment products. Investments focused on Bitcoin dominated this market, bringing in about $1.93 billion, mostly from institutional investors.

In the altcoin space, Solana ($SOL) made a big impression and attracted $167 million in investors. Its amazing over 650% growth was largely due to this cash infusion, especially when it recovered from the FTX collapse.

With a strong outlook, analyst Lark Davis said that Ethereum’s value may reach $10,000. In a similar vein, renowned cryptocurrency expert Michaël van de Poppe has expressed optimism for Ethereum. He thinks it might rise above $3,000, especially if Bitcoin goes into a range-bound phase after the approval of ETFs.

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