Ethereum Surpasses $4K Amid SharpLink’s $3.5 Billion ETH Holdings
Ethereum Price Movement
- The price of Ethereum rose by 3%, surpassing $4,000 on October 21.
- This rise followed SharpLink Gaming's purchase of 19,271 ETH at an average price of $3,892.
- SharpLink's total ETH holdings now amount to 859,853 ETH, valued at approximately $3.5 billion.
Market Dynamics
- SharpLink raised $76.5 million at a 12% premium to market.
- ETH is trading near $4,020, above its 50-day moving average.
- Traders are observing potential retests of the $4,200 resistance level.
- Bitmine announced additional ETH purchases worth $250 million, increasing its reserves to $13.4 billion.
Ethereum Derivatives Activity
- Ethereum futures trading volume increased by 37%.
- Open Interest (OI) saw a modest increase of 1.77%, totaling $44.74 billion.
- The long/short ratio was at 0.94, indicating a slight bearish bias.
- A failure to close above $4,000 could lead to a retest of $3,900 levels.
- Short positions could trigger a rapid breakout to $4,200 if macro catalysts occur.
Best Wallet Presale
- The Best Wallet presale has crossed $16.6 million in sales.
- Tokens are priced at $0.026 with less than 48 hours before the next price tier unlocks.