Ethereum Climbs Above $2000: Investors Step In With Fresh Accumulation
Ethereum reclaimed the $2000 level amid a market rally, driven by significant whale accumulation and positive US investor demand signals.Summary
Ethereum (ETH) has surpassed $2000, continuing a midweek rally, with on-chain data indicating renewed buying interest from large investors (whales). The 30-day Market Value to Realized Value (MVRV) ratio for large-cap cryptos, including ETH, has shifted from strongly undervalued to mildly undervalued, suggesting a market rebalancing. Specific whale activity included one address acquiring 7,008 ETH for $14.57 million and another withdrawing 20,000 ETH worth $38.25 million from exchanges. Furthermore, the Ethereum Coinbase Premium Index moved above zero for the first time since early January, signaling stronger buying pressure from US-based investors, which historically precedes upward price trends. While momentum appears positive, sustainability remains to be seen.
(Source：BeInCrypto)