Whales Accumulate 430K Ethereum Worth $1.1 Billion Following Price Dip
Whales are accumulating ETH following a price dip. The cryptocurrency fell 18% in the past month to a low of $2,159.28 but has recovered to $2,713.20. In the last 72 hours, whales purchased 430K ETH worth approximately $1.1 billion, suggesting confidence in an upcoming price surge.
Ethereum Foundation Launches Open Intents Framework
The Ethereum Foundation announced the “Open Intents Framework,” which aims to enhance interoperability across chains. This framework will facilitate frictionless asset transfers within Ethereum and its Layer 2 solutions. It is backed by contributions from over 30 teams and supported by various infrastructure providers.
Key points include:
- Modular infrastructure for developers
- Unification of fragmented cross-chain ecosystem
- Enhanced efficiency in asset movement
ETH Price Analysis
Current analysis indicates that ETH is testing the 20-day Exponential Moving Average (EMA) at $2,789, which serves as a critical resistance level. The Bollinger Bands show low volatility, while the Relative Strength Index (RSI) at 42.31 indicates potential for upward movement.
Source: TradingView