{"id":300669,"date":"2024-05-13T10:21:40","date_gmt":"2024-05-13T04:51:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=300669"},"modified":"2024-05-13T10:21:40","modified_gmt":"2024-05-13T04:51:40","slug":"ethereum-eth-price-slips-another-1-5-amid-massive-whale-deposit-on-coinbase-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-eth-price-slips-another-1-5-amid-massive-whale-deposit-on-coinbase-crypto-news\/","title":{"rendered":"Ethereum (ETH) Price Slips Another 1.5% Amid Massive Whale Deposit on Coinbase – Crypto News"},"content":{"rendered":"

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The world\u2019s second-largest cryptocurrency Ethereum (ETH) continues to face strong selling pressure losing another 1.5% in the last 24 hours and slipping all the way to $2,884 levels. With this, the Ethereum price<\/a> has extended its weekly losses to 8%.<\/p>\n

Massive Ethereum Whale Deposit on Coinbase<\/h3>\n

As Ethereum (ETH) shows no signs of moving upside, the whales have been relatively losing patience in recent times. Spot On Chain, a prominent on-chain data provider, has identified significant transactions involving an early Ethereum (ETH) holder, identified as 0x2ce.<\/p>\n

<\/p>\n

Approximately three hours ago, 0x2ce deposited a substantial amount of 4,153 ETH, equivalent to $12.2 million, into Coinbase at a price of $2,931 per ETH.<\/p>\n

This transaction follows a pattern of previous movements by the whale. In 2016, the whale withdrew 12,423 ETH from Poloneix, valued at approximately $137,000 at the time. Since 2021, 0x2ce has been actively depositing ETH into Coinbase and Luno, totaling 9,436 ETH at an average price of $2,245 per ETH, amounting to $21.2 million.<\/p>\n

As of the latest data, the current holding of 0x2ce stands at 2,566 ETH, valued at $7.48 million. Notably, the estimated total profit from these transactions amounts to $28.5 million, representing a remarkable increase of 204%.<\/p>\n

<\/p>\n

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3 hours ago, Early $ETH<\/a> holder 0x2ce deposited 4,153 $ETH<\/a> ($12.2M) to #Coinbase<\/a> at $2,931.<\/p>\n

The whale withdrew 12,423 $ETH<\/a> from #Poloneix<\/a> at ~$11.03 ($137K) in 2016,<\/p>\n

And has deposited 9,436 $ETH<\/a> to #Coinbase<\/a> and #Luno<\/a> at ~$2,245 ($21.2M) since 2021.<\/p>\n

Current holding: 2,566 $ETH<\/a>\u2026 pic.twitter.com\/ky5g0uy2n5<\/a><\/p>\n

\u2014 Spot On Chain (@spotonchain) May 13, 2024<\/a><\/p>\n<\/blockquote>\n

ETH Price Reversal Soon<\/h3>\n

<\/p>\n

Ethereum investors had pinned their hopes on the arrival of the spot Ethereum ETF<\/a> by May end. However, market analysts have been stating that the odds of such approval remain very slim with very less chances of the ETF coming to the market this year in 2024.<\/p>\n

In his recent interview<\/a> with DL News, senior Bloomberg analyst Eric Balchunas stated that the chances of spot Ethereum ETF approval by the U.S. SEC seem to be very slim with no potential interactions between the issues and the SEC.<\/p>\n

The upcoming U.S. election in November could impact SEC leadership, potentially resulting in a more crypto-friendly chair if Donald Trump secures a second term. This could affect regulatory decisions on cryptocurrencies. If a new chair takes office in April or May and filings follow promptly, approval or rejection deadlines could fall around December 2025.<\/p>\n

<\/p>\n

In a recent assessment, renowned crypto analyst Michael van de Poppe highlighted the ongoing downward trajectory of Ethereum (ETH)<\/a>, anticipating a decline to the range of $2,500 to $2,750.<\/p>\n

\"\"
Courtesy: Poppe<\/a><\/figcaption><\/figure>\n

Van de Poppe suggests that Ethereum\u2019s descent is nearing its conclusion, with the projected low likely to materialize within the next 1-2 weeks. He emphasizes that this forecast is contingent upon the possibility of further delays in the approval of an Ethereum Exchange-Traded Fund (ETF).<\/p>\n

Technically, van de Poppe outlines a potential scenario where a final downward movement, termed a \u201csweep,\u201d occurs before a subsequent rotation towards Ethereum ensues. This analysis underscores the nuanced interplay between market dynamics and regulatory developments shaping Ethereum\u2019s price trajectory.<\/p>\n

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\u2713 Share:<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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The world\u2019s second-largest cryptocurrency Ethereum (ETH) continues to face strong selling pressure losing another 1.5% in the last 24 hours and slipping all the way to $2,884 levels. With this, the Ethereum price has extended its weekly losses to 8%. Massive Ethereum Whale Deposit on Coinbase As Ethereum (ETH) shows no signs of moving upside, […]<\/p>\n","protected":false},"author":2,"featured_media":217925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-300669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=300669"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300669\/revisions"}],"predecessor-version":[{"id":300674,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300669\/revisions\/300674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/217925"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=300669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=300669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=300669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}