JAKARTA - ETH (Ethereum) has shown impressive performance with an increase of more than 50% since the beginning of the year. Even so, an interesting event began sticking out when the Ethereum whale (whole) or a large entity that owns the ETH cryptocurrency that ismysterious sent more than 61,000 ether (ETH) to the stock exchange.
This address initially received the coins in an initial coin (ICO) offer eight years ago and was no longer active until this week. With the price of ETH as pre-mining in the range of 300 US dollars (Rp4.5 million) to 400 US dollars (Rp 5.9 million), the Ethereum whale had to pay about 20 million US dollars (Rp299 billion) to buy the asset. Currently, the value of ETH whale ownership is worth about 116 million US dollars (Rp1.7 trillion).
Although the identity of these whales is unknown, speculation has emerged that they may want to cash out their assets after seeing ETH reach a new high in 2023.
The Ethereum whale action is not the first in recent months. Several other major transactions have been observed, including one of which was a whale that moved ETH worth about US$38 million (Rp569 billion) from Arbitrum (ARB) to Kraken. There is also another unidentified wallet that sent 25,264 ETH worth 48.3 million US dollars (Rp723 billion) into Coinbase wallet. In addition, other ETH whales also transferred 30,000 ETH worth nearly 57.7 million US dollars (Rp864 billion) to cryptoXcurrency.
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It's not just Ethereum whales moving. In April, the old wallet moved Bitcoin worth 7.8 million US dollars (IDR 116 billion) to a new wallet, while a long-term investor transferred Bitcoin worth 11 million US dollars (IDR 164 billion) after 12 years of inactivity. Such large transfers show confidence and active involvement of large crypto asset holders.
With overall positive market sentiment, ETH has recorded growth of more than 50% since the start of the year. On April 14, the value of this coin reached a high level of 2,126 US dollars (Rp31 million). Currently, ETH is trading around Rp28.6 million per coin, with a market capitalization of more than Rp3.4 quadrillion.
Even so, Ethereum should have bright prospects throughout this year. Because this network continues to grow and innovate, with the Banyak Chain to be combined with theproof of work network by the end of the year or early 2024. Analysts expect the growth of this coin to be supported by increased network, adoption and demand.
According to Ethereum's estimated price from Gov Capital for 2023, this coin could reach 2,896 US dollars (approximately IDR 43 million) by the end of the year. Predictions from Gov Capital show a potential increase of about 116% in the next year, with prices reaching 4,133 US dollars (IDR 61 million). Thus, Ethereum remains one of the crypto assets taken into account in today's market.
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