Top 100 Ethereum whales have moved about 700,000 ETH ($191.1M) to exchanges over the past 3 days. According to Santiment analysts, this could mean the start of a pump for the second largest crypto by market cap.
As a result, Ethereum has broken the line of the downward trend that has dominated the market since the summer of 2019, Carmine Lemone Investments CEO and investor has said through his official Twitter account (@bitcoinkang).
Michaël van de Poppe, trader at the Amsterdam Stock Exchange, believes Ethereum is greatly undervalued. He thinks the growth of the capitalization of cryptos could be driven in the foreseeable future by Ethereum and not by Bitcoin.
Ethereum is currently trading at around $270 posting a growth of 3.1% over the last day.
At the same time, CoinMetrics analysts have said the average fee on the Ethereum network has reached $0.4 (the average value of 2018) as a result of the outstanding growth of the DeFi sector.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.