This might be catalyst behind Ethereum (ETH) bullish comeback ETH $ETH
Ethereum rose to intraday highs of $1,701 before settling to trade at $1,686 at press time, still up 9% in the last 24 hours.
The movement may have surprised traders who had previously wagered on falling prices following the closure of two important crypto-friendly banks last week and the USDC stablecoin depegging. When the Federal Deposit Insurance Corporation announced that Silicon Valley Bank depositors will have complete access to their money after confirming a successful transfer of deposits to a new bridge bank, investors' sentiment improved.In positive news, crypto exchange Binance announced the conversion of $1 billion worth of Binance USD to Bitcoin , Ethereum , BNB coin and other tokens to support the market.
The transaction from Binance's industry fund, which occurred Monday, probably increased buying pressure. Bitcoin regained the $24,500 mark, while Ether briefly touched the $1,700 mark. A group of individuals that might have caused buying pressure for Ethereum are whales or large holders with 1,000 to 10,000 coins.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum Co-Founder Vitalik Buterin Selling ETH Holdings, This Might Be ReasonEthereum's Vitalik Buterin offloads ETH holdings, here's why $ETH vitalikbuterin
Read more »
BTC and ETH Price Analysis for March 13Can BTC keep rising faster than ETH? crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
Read more »
Price analysis 3/13: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOLBitcoin has roared back to $24,000, indicating strong demand as traders turn cautious fearing more bank failures.
Read more »
Ethereum (ETH) up 9% as Whale Goes on Buying Spree: DetailsEthereum's growth today is fueled in part by prominent whale activity
Read more »
Thousand Ethereum Holders Join Class Suit Against New York State Attorney GeneralEthereum holders v. NYAG: class action lawsuit recruits first thousand participants eth ethereum ether ethereumnews $eth
Read more »
Lightyear Frontier's Early Access Release Pushed BackLightyearFrontier will still be getting released for Early Access on PC; however, the date has been pushed back. indiedev indiegame
Read more »