6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod

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6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod - NewsBTC

Quick Summary:

The Beacon Chain, which checks recently added blocks to the network, is the basis of Ethereum 2.0 This big action suggests that investors might be inclined to lock down their ETH holdings instead of aggressive trading.🚨 6,400 #ETH (20,015,930 USD) transferred from unknown wallet to Beacon Depositor — Whale Alert (@whale_alert) July 11, 2024 According to cryptocurrency analysts, this is a blatant sign that a lot of Ethereum users are optimistic about the network’s long-term prospects.

Related Reading: Analyst Upbeat On USTC, Sees Price Soaring Over 300% Ethereum Supply Tightens Up The first sign of this supply gap came earlier this month when an unknown market player moved a staggering 6,400 Ethereum to the Beacon Chain depositor wallet.

Related Reading: $36 On The Crosshair: Injective (INJ) Captures Analyst’s Attention The report also predicts that Ethereum would be set to surpass Bitcoin in the fourth quarter of 2024, per normal altcoin market cycle pattern.