The recent surge in Ethereum’s value, with a 5% increase, has sparked excitement within the crypto community. Ethereum’s price is now approaching $4,000, hitting a new high at $3,985. 

This significant uptick is attributed to robust buying activity and an overall optimistic sentiment prevailing in the market, hinting at a potential further increase in Ethereum’s value.

Remarkably, out of the 110.95 million Ethereum addresses with a positive balance, a staggering 103.1 million addresses are now ‘In The Money,’ reflecting widespread investor confidence.

According to on-chain reports, PulseChain and PulseX-related wallets have injected an additional 201M $DAI to acquire 51,809 $ETH in the past 10 hours, propelling the ETH price beyond $3,900.

Over the last 3 days, 21 wallets associated with PulseChain/X have collectively purchased 148,288 $ETH using 561.7M $DAI, realizing an estimated profit of $21.8M (+3.9%).

Further contributing to Ethereum’s momentum, another 15,003 $ETH was acquired on-chain at approximately $3,932 using 59M $DAI by wallets linked to PulseChain/X within the past hour.

The total amount purchased in the last 4 days stands at 163,295 $ETH, costing 620.7M $DAI, with an estimated unrealized profit of $24.3M.

31M Stablecoins Exchanged For 8,230 ETH And More To Watch

In addition, a savvy trader executed a strategic move by exchanging 31.8M $USDC for 8,230 $ETH at an average price of ~$3,864, marking the start of another lucrative trade cycle. 

This trader has previously completed 2 $ETH trading cycles, accumulating an estimated total profit of $13.36M, with respective ROIs of +78.1% and +45.9%.

Meanwhile, James Fickel(@jamesfickel) continues to leverage $WBTC borrowings from AAVE, exchanging them for $ETH to bet long on the ETH/BTC trading pair, amassing 2,031 $WBTC ($103M) and 36,677 $ETH since the launch of the Bitcoin ETF on Jan 10.

The Ethereum Blockchain’s significant accumulation suggests that $ETH is on track to surpass its ATH soon, with meme token speculation among the key drivers boosting

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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