After experiencing a notable rebound last weekend, Ethereum appeared to be on an upward trajectory, surpassing the $3.6K mark after enduring a significant dip of up to -25% between March 11th and 19th.
However, today saw a modest decline of 5% in the price of Ethereum.
👍 #Ethereum has taken a jump this weekend, rebounding above $3.6K after dropping as much as -25% between March 11th and 19th. The amount of $ETH addresses holding coins is up to an #AllTimeHigh 118.23K, and mid-term MVRV has a very mild #bullish signal. https://t.co/YbGArXdzAN pic.twitter.com/oSEEjNapkY
— Santiment (@santimentfeed) March 31, 2024
In recent hours, Wintermute, a prominent player in the cryptocurrency space, made significant moves involving Ethereum transactions.
Wintermute unpledged 6,000 ETH, previously deposited in Lido and valued at approximately US$21.66 million.
These funds were then transferred to the address 0xDBF…dC080, before being recharged to various platforms including OKX, Kraken, and Binance ETH, totaling a value of $25.41 million.
两小时前，Wintermute 将 Lido 中存入的 6000 枚 $ETH 解除质押（价值 2166 万美金），转移至地址 0xDBF…dC080 后向 #OKX, #Kraken 和 #Binance 充值了 7044 枚 ETH，总价值 2541 万美金
ETH 短时跌破 $3600，现价 $3,597📉 钱包地址 https://t.co/H6NitolsHT
本条推特由 #Bitget 赞助 pic.twitter.com/LrhhtYiZMq
— Ai 姨 (@ai_9684xtpa) April 1, 2024
Ethereum Price Drops From 3,600 To Around 3,451
As a result of these developments, the price of ETH briefly dipped below the $3600 mark, with the current value standing at $3,451.
Interestingly, despite today’s minor setback, Ethereum witnessed a surge in the number of addresses holding coins last weekend, reaching an All-Time High of 118.23K.
Additionally, mid-term MVRV indicators exhibited a subtle bullish signal before the recent decline.
The fluctuating dynamics of Ethereum’s price movements underscore the inherent volatility and unpredictability within the cryptocurrency market.
While recent trends may have presented challenges, Ethereum continues to remain a focal point for investors and enthusiasts alike, with its underlying technology and potential for growth continuing to drive interest and speculation.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: nexusplexus/123RF // Image Effects by Colorcinch
