Ethereum Shark and Whale addresses are back, 50% increase imminent

Second-largest cryptocurrency Ethereum (ETH) has plagued over 65% since the beginning of 2022. Investors' sentiments on the price are mostly bearish, likewise the outlook for the entire market, considering the liquidity crunch plaguing the industry.

Timeline of Ethereum

Ethereum's price is about to complete a ‘V-shape' recovery that began after rebounding from the bottom around $1079. Meanwhile, the bears are also very active, attempting to drive down prices. However, the bulls and whales appear to be well positioned, with plans to propel the prices higher very soon.

The Ethereum price mid-week bear rally pushed to highs around $1,215. A bullish relief move was overdue this week following the FTX collapse. Bitcoin gained more ground and reclaimed support at $16,000 before inching closer to $17,000.

Whales became active after crypto prices fell to the lowest levels, starting to buy the dip. As a result, the crypto market recovered with Bitcoin and Ethereum prices skyrocketing over 8% and 10%, respectively.

A look at what ETH whales are up to this week as sell pressure tapers off Can ETH bulls secure enough momentum for a bigger uptick? Ethereum (ETH) would have been a healthy option for short traders this month considering its downside so far.

The largest whales on the Ethereum ($ETH) network have added over $1 billion worth of the second-largest cryptocurrency by market capitalization in a single day as they continue “rapidly” accumulating the cryptocurrency after its price dropped significantly.

What happened: On Tuesday a total of 1,504.07 Ether (CRYPTO: ETH) worth $1,736,887, based on the current value of Ethereum at time of publication ($1,154.79), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

The world's leading exchange, Binance, announced the launch of the Ravencoin mining pool following Ethereum's move to Proof-of-Stake (POS) The post Binance Pool Launches Ravencoin (RVN) Mining Pool Following ETH Move to PoS, Price Jumps 12% appeared first on BeInCrypto.

Ethereum developers released a "devnet" to test validator staking withdrawals, a feature currently missing on the network. The post Ethereum client teams test staking withdrawals on devnet appeared first on The Block.

Popular crypto analyst Nicholas Merten says that Ethereum (ETH) remains overvalued and he expects a steep price decline. In a new video update, Merten tells his 512,000 YouTube subscribers that the current value of the smart contract platform Ethereum is heading downward according to the analysis of its weekly chart.

Ethereum price bounces off support at $1,074 with a 7.4% rally in mid-week trading. This fresh bullish wave is moving across the crypto market days after the FTX drainer who made away $600 million plunged crypto assets into another tailspin.