TO series Substantial purchases of Ethereum (ETH) have been made, totaling over $620 million. Spot On Chain data reveals that in a single hour, a whopping sum of 15,003 ETH was acquired at an approximate rate of $3,932, using 59 million DAI. Over the past four days, these wallets have accumulated 163,295 ETH, costing around 620.7 million DAI, with an average purchase price of $3,801, resulting in an estimated unrealized gain of $24.3 millions of dollars.
TO series Substantial purchases of Ethereum (ETH) have been made, totaling over $620 million. Spot On Chain data reveals that in a single hour, a whopping sum of 15,003 ETH was acquired at an approximate rate of $3,932, using 59 million DAI. Over the past four days, these wallets have accumulated 163,295 ETH, costing around 620.7 million DAI, with an average purchase price of $3,801, resulting in an estimated unrealized gain of $24.3 millions of dollars.
These proceedings They are associated with wallets linked to PulseChain, a project with connections to controversial figure Richard Heart, the founder of HEX and PulseX. PulseChain has been a topic of debate within the cryptocurrency community. Despite the controversies surrounding its founder, the significant investment in Ethereum by entities associated with PulseChain suggests confidence in the future of the digital asset.
Ethereum price targets $4,000
The impact of these large-scale purchases is evident in the market as the price of Ethereum approaches the $4,000 mark. Currently, ETH is trade to $3,939, which is an increase of 3.74% in the last 24 hours and an impressive increase of 62.57% in the last month. Significant interest from retail and institutional investors continues to drive Ethereum’s momentum, highlighting widespread belief in its long-term potential.
The rise in Ethereum value comes at a time when the community is eagerly anticipating the next Dencun updatescheduled for March 13. This update is expected to introduce proto-danksharding, a development aimed at dramatically reducing the cost of layer 2 transactions, thereby improving the overall user experience and efficiency on the Ethereum network.
As the Dencun upgrade date approaches, market observers and participants are closely watching the price movements and investment patterns in the Ethereum market. Recent activities by large-scale investors, or “whales”, have underlined the significant interest and optimism surrounding Ethereum, reinforcing its position as a leading digital asset in the cryptocurrency space.
