#MarketRebound Ethereum is on fire! Is the $1.8 billion short liquidation pushing it towards $3000? 🚀🔥
Oh crypto world, get ready for a new bullish wave! Ethereum ($ETH ) is not just bouncing back; it's exploding upward, reaching its highest level in 15 weeks at $2,827 on June 10! A daily close above $2,700 would be the highest since February 24! Will massive short liquidations be the spark that drives it towards $3000 and beyond?
Whale hunter captures $31 million!
After stabilizing Ethereum's price for a full month between $2300 and $2800, a giant whale emerged to assert its dominance! According to Lookonchain, this whale sold 30,000 Ethereum for $82.76 million in an over-the-counter (OTC) deal on June 10, realizing an astonishing profit of $7.3 million! This was after buying the same amount for $75.56 million on May 27!
And that's not all! The same whale had previously bought 30,000 ETH for $1,830 (54.9 million dollars) on April 27, and sold it on May 22 for $2,621 (78.63 million dollars), realizing a net profit of $23.73 million! The bottom line? This whale made profits of $31 million in just 44 days! Is this paving the way for a bigger leap?
The network $ETH is glowing: Unique addresses up 70%!
It's not just whales; the entire network is expanding! The number of unique addresses on the Ethereum network reached an all-time high of 17.4 million addresses! Data from Growthepie indicated that the number of ETH addresses interacting with one or more chains has increased by 70.5% since the beginning of the second quarter! The core network has driven this significant growth!
Ethereum still dominates the decentralized finance (DeFi) sector, holding a 61% share of the total value locked (TVL) at nearly $66 billion!
Whispers of concern: Network fees and returns for stakeholders?
It is true that there are some concerns about the sustainability of Ethereum due to network fees dropping to only $43.3 million over the past thirty days, which impacts returns for stakeholders. But these challenges pale in comparison to the immense momentum and growth the network is experiencing!
Are you ready to join this bullish wave for ETH? Share your thoughts! $ETH