67,286 ETH værd $228 millioner

• Ethereum price rebounds past $3,150 after a significant dip below $3,000.
• A Matrixport-associated wallet withdraws $51.1 million worth of ETH from Binance.
• Since March 29, this wallet has withdrawn 67,286 ETH worth $228 million.

In a significant market move, Ethereum (ETH) prices rebounded strongly to surpass the $3,150 mark. This recovery occurred shortly after a dip below $3,000 amid escalating tensions between Israel and Iran. The price increase aligns with large-scale acquisitions by major investors.

Recent data from Etherscan indicates a notable transaction involving the withdrawal of 16,300 ETH from Binance. This transaction, worth approximately $51.1 million, links to a wallet associated with Matrixport. The event took place just 20 minutes before reporting and has added to a series of withdrawals from the same wallet since March 29. To date, this wallet has moved a total of 67,286 ETH, valued at $228.33 million, from exchanges.

The average price for these transactions is $3,393.5 per ETH. Matrixport’s consistent withdrawal pattern may point to strategic market maneuvers. It could indicate an anticipation of higher ETH prices or a move towards greater liquidity management.

In another significant activity, a major Ethereum holder, identified by their wallet address (0xE3477C73E4733D48306A955044E1fAefC649C08F), purchased 1,000 ETH from Binance. Valued at $3.15 million, this acquisition contributes to their total holdings of 8,300 ETH, now worth $25.12 million. These purchases occurred as the market saw a downturn, showcasing a trend of buying during dips.

The behavior of long-term holders also influenced the market dynamics. During the initial price drop from the monthly high of $3,700 on April 8, more than 55,368 ETH were sold. These assets had not moved for at least 180 days and were valued at around $204 million at the time.

However, during a subsequent market dip on April 11, the movement of dormant supplies was considerably lower. Only 31,165 ETH, valued at approximately $101.4 million, were traded. This reduction in selling pressure by long-term investors could support a more stable price environment for Ethereum in the coming days.

As per CoinMarketCap, Ethereum opened the week with a 4.66% increase over the last 24 hours, bringing its price to $3,245. Its market capitalization also rose by over 5% to reach $390 billion. Despite these gains, the trading volume for ETH has seen a significant reduction. It dropped by 31.71% from the previous day, totaling $22,693,856,909.