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Ethereum (ETH) Regains $1,400 Pushed by These Drivers: Santiment

Thu, 01/12/2023 - 11:39
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Yuri Molchan
Recently shared report shows one of major reasons that stand behind rally of Ethereum above $1,400
Ethereum (ETH) Regains $1,400 Pushed by These Drivers: Santiment
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A recent tweet published by on-chain data vendor Santiment has offered one of the main reasons for the second largest crypto, Ethereum, to surge above the $1,400 level.

Here's what has made a large contribution to Ethereum's price rise.

Uptick in number of ETH shark addresses

On Jan. 11, the second most popular token followed Bitcoin's bullish streak and briefly rose above the $1,400 level. Santiment team of analysts has shared that one of the major reasons behind this growth was a sharp increase in shark addresses over the past two and a half months.

Ethereum has reached that price level for the first time since early November.

Their tweet has it that, in the past 10 weeks, 3,000 new shark wallets emerged on the ETH network, storing from 100 to 10,000 Ethers each. Overall, the analysts have observed the highest peak of 48,556 wallets that heavy with Ether since February 2021.

The second reason is that Ethereum followed Bitcoin in its rise. On Jan. 11, the flagship cryptocurrency surged above the $18,000 level for the first time in a month.

As a reminder, at the start of November, Bitcoin was trading above the $21,000 level. However, a sudden crash of the FTX crypto giant and its pocket trading firm Alameda Research sent waves of shock through the crypto market. Bitcoin plunged to $15,883 and has been trading mainly in the $16,800 range since then.

Dogecoin (DOGE) Creator Sells Bunch of Ethereum (ETH) at $1,190, Here's Reason

DOGE co-founder sells bunch of ETH

As covered by U.Today earlier, one of the two co-founders of DOGE meme token announced that he had sold "a bunch of ETH" at the $1,190 price mark. Billy Markus, the co-founder, also known on Twitter as Shibetoshi Nakamoto in honor of the mysterious Bitcoin creator, explained this sale, saying that he had to pay taxes for 2022.

Alas, he sold the ETH just a day before the price went up above the $1,220 level.

At the time of this writing, Ethereum is sitting at $1,398 per coin, showing a nearly 5% rise in the past 24 hours.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at

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