Major event about to happen? Ethereum Whale swept 820,000 ETH in 72 hours, with 3.8 billion dollars flowing in.

The Ethereum (ETH) market has recently shown astonishing movements, with large investors buying up to $3.8 billion worth of Ethereum within just 72 hours. This sudden Whale activity has attracted widespread attention in the market, and analysts believe it could indicate that Ethereum is about to break its historical high, potentially surging to $6,600 before the end of the year. What exactly has caused such a massive influx of capital? Is this a strategic layout by institutional investors, or is a significant event about to happen?

Whale aggressively bought 820,000 ETH, with $3.8 billion in funds flooding into the market within 72 hours

Renowned cryptocurrency analyst Ali Martinez has provided the latest data showing that Ethereum whales have embarked on an astonishing buying spree in the past three days. The data indicates that in the last 72 hours, Ethereum whales have purchased a total of 820,000 ETH, valued at up to $3.8 billion.

It is worth noting that these large transactions were all carried out by wallets holding at least 10,000 ETH and up to 100,000 ETH, indicating the active participation of institutional investors. During this period, the well-known Ethereum financial company BitMine was also found to hold a significant amount of the asset.

This wave of Whale activity has directly driven the market performance of Ethereum. As a large amount of capital flows in, the price of Ethereum continues to rise, regaining key support levels. Even more noteworthy is that Ethereum's daily trading volume has surged by 30%, indicating a significant increase in market activity.

Possible Reasons Behind Whale Activity

Experts analyze that this large-scale buying action may have the following reasons:

· Increasing institutional demand: As more traditional financial institutions enter the cryptocurrency market, Ethereum's position as a mainstream smart contract platform has attracted significant institutional capital.

· Technical breakout signal: Ethereum has recently shown a breakthrough in key technical indicators, which may attract technical analysis investors to enter the market.

· Significant event expectations: The market may anticipate that a major event or upgrade is about to occur in the Ethereum ecosystem.

· Strategic asset allocation: Large investors may be preparing for market volatility before the end of the year, making strategic moves in advance.

Ethereum Price Outlook: Historical New High in Sight, Could Surge to $6,600 by Year-End

(Source: CoinMarketCap)

Although as of September 18, Ethereum's price is consolidating around $4,670, technical insights shared by market analysts suggest that Ethereum may experience a quick rebound in the short term, breaking through its all-time high and soaring to $5,407.

A more optimistic prediction suggests that if Ethereum can maintain its growth momentum, it may surpass $6,600 by the end of this year, which would provide substantial returns for holders.

According to data from CoinMarketCap, as of September 19, the trading price of Ethereum was $4,591, with a daily increase of 1.49%. Although the rapid rise in cryptocurrency prices on September 18 seemed to slow down later that day, investors remain optimistic that the asset will soon break through significant milestones, as it is only 7.3% away from reaching its all-time high.

Market observers point out that this wave of Ethereum's rise aligns with the overall positive sentiment in the crypto market, but the scale and concentration of whale activity suggest that there may be deeper factors driving this market trend.