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Ethereum Saw 30%+ Surge Last Time This Happened

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Wed, 30/11/2022 - 10:44
Ethereum Saw 30%+ Surge Last Time This Happened
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Santiment data company has reported the rising activity of large key Ethereum wallets since the collapse of FTX earlier this month, most likely leading to a price rise of over 5% in the past 24 hours.

This may be a forerunner of a much bigger price surge, Santiment analysts believe. At present, Ethereum is changing hands at $1,265.

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Image via TradingView

ETH whale and shark addresses surge to new peak

Santiment has tweeted that the number of large key wallets on Ethereum chain has been actively growing after Sam Bankman-Fried filed for FTX's insolvency. Thus, the amount of wallets holding from 100 to 100,000 Ethereum has reached a 20-month peak after dropping heavily since the FTX scandal and bankruptcy.

Ethereum may jump 30% if history repeats itself

To cap the aforementioned 20-month high of large Ethereum wallets, Santiment also spread the word that this was likely what pushed the second largest cryptocurrency up 5.4% in the past 24 hours.

The last time the same thing happened and these addresses reached exactly the same level, Ethereum's price added more than 30% within the next three weeks.

Related
Key Reason Why Bitcoin Just Reclaimed $17,000

Dan Tapiero bullish on Ethereum

Founder and CEO of 10T Holdings and Gold Bullion, investor Dan Tapiero has taken to Twitter to share his thoughts on the future moves of Ethereum's price.

He turned out to be very bullish on the cryptocurrency made by Vitalik Buterin's Ethereum since ETH did not hit a new price low after the FTX scandal. The latter, Tapiero believes, has been the most negative news for the crypto market recently.

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