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Recent on-chain data shows that a large investor or institution has taken aggressive action in the Ethereum market. This investor has added 35,237 ETH, with a total value of approximately $155 million. This brings their total holdings to an astonishing 328,421 ETH, distributed across 10 different wallet addresses. These ETH mainly come from platforms like FalconX.
This large-scale purchase coincided with Ethereum breaking the historical high of $4,400, undoubtedly injecting strong confidence into the market. At the same time, other market participants have also shown an optimistic attitude. Reports indicate that another large investor withdrew 500 Bitcoins from Binance, while renowned trader Arthur Hayes chose to invest in tokens within the ETH ecosystem. These movements seem to suggest that DeFi and Layer2 projects may be on the verge of a surge.
Analysts predict that the price of Ethereum is likely to challenge the $4,500 mark in the short term. For investors, closely monitoring the movements of these large addresses may be a wise move. However, it is also essential to keep in mind the high-risk nature of the market, and maintaining caution and effective risk management is crucial.