As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by the recent surge in large transaction volume on Ethereum. The 230.12% increase in large transactions within the last 24 hours, as reported by IntoTheBlock, has piqued my interest. This could be a clear indication of increased whale activity – a trend that often sets the tone for market movements.
As a researcher, I’ve observed an impressive increase in substantial transaction volumes within the Ethereum network, suggesting heightened activity from large-scale investors, often referred to as ‘whales’.
Based on information from IntoTheBlock, Ethereum saw a significant surge in its daily transaction volume, reaching approximately $5.69 billion – a notable jump of around 230.12% compared to the previous 24-hour period.
Transactions that exceed $100,000 can be considered as significant ones, and an uptick in such large transactions could indicate heightened activity from ‘whales’, suggesting they may be either purchasing or offloading assets.
The broader crypto market has recently drawn favorable sentiment, and Ethereum is no exception.
In the latest CoinShares report, digital asset investment products have been attracting approximately $1.2 billion each week for three consecutive weeks. This surge might be attributed to optimistic predictions about a lenient monetary policy in the U.S. and favorable price trends. Moreover, Ethereum ended its five-week downward trend with inflows worth around $87 million, marking the first increase since early August.
At the time of writing, Ethereum was down 0.77% in the last 24 hours to $2,613.
Ethereum transfers to be enabled in Europe via Robinhood
In a recent statement, the investment platform Robinhood has disclosed that European users can now move cryptocurrencies into and out of their application.
As it expands internationally, the company aims to enhance its product offerings in the region.
As a crypto enthusiast, I’m thrilled to hear that Robinhood is expanding its services to the European Union, allowing users like me to deposit and withdraw more than 20 digital currencies, including Ethereum, Bitcoin, Solana, USD Coin, and several others. This development opens up a world of opportunities for us EU-based investors to diversify our crypto portfolios even further.
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2024-10-01 17:31