Whale Buys $5.5M Of ETH: Will Ethereum Bulls Cruise Past $2,100?
An unnamed Ethereum whale, known for profitable trades, has bought another $5.53 million worth of Ethereum (ETH) on Binance amid market volatility. This follows their previous acquisition of $18 million of USDC used to purchase ETH around $1,971. The trader seems to be preparing for a potential ETH breakout past the $2,100 resistance level. Despite regulatory challenges for Binance resulting in a $4 billion fine and leadership changes, ETH prices have recuperated approximately 5% recently towards the resistance level. The Binance settlement is viewed by some as a validation, suggesting that established coins like Bitcoin are becoming stronger and more resistant to legal pressures. The DOJ has also issued a deferred prosecution agreement, allowing Binance to pay the fine over 15 months.
