- Ethereum’s large daily transactions exceed 10,000, the highest since August.
- ETH market cap now tops Netflix and Johnson Johnson.
- Ethereum poised for a breakout, pending rate cuts and yield drops.
Ethereum whales are making large-scale transactions, pushing daily transaction counts above 10,000—the highest since August. This signals strong interest in the Ethereum network as investors anticipate a potential price breakout.
Source: Twitter This surge in whale activity, a three-month high, suggests growing investor confidence in Ethereum. Moreover, Ethereum’s market cap is now higher than that of major NYSE-listed companies like Netflix and Johnson Johnson .
Ethereum Price Analysis
On the price front, Ethereum’s native token ETH has taken a breather from its November 12 peak of $3,424. Indicators suggest it could soon reach new all-time highs. Analysts believe potential interest rate cuts and yield drops could make Ethereum more attractive.
Source: Michaël van de Poppe Read also: Ethereum 3.0? “Beam Chain” Proposal Aims to Revamp ETH Consensus
Ethereum Whale Activity Hints at Potential Upside
Despite a recent price pause, Ethereum remains well-positioned. As it approaches a key resistance level of $3,180, experts suggest that a breakout could push Ethereum to new all-time highs.
That said, one might speculate on the recent whale activities, which increased even though the price didn’t move significantly. This could be due to various reasons (like accumulation or redistribution, market anticipation of a big event such as upcoming rate cuts, or network upgrades) that they expect to affect the price soon.
Or it could simply mean that whales may be adjusting their portfolios, moving Ethereum into wallets or exchanges to maintain liquidity without actively trading it. Market watchers remain optimistic, recommending strategic trading as Ethereum builds momentum toward a potential price surge.
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