A recent tweet from on-chain data provider Santiment identified a key factor that propelled Ethereum—the second-largest cryptocurrency—above $1,800 and helped it reclaim its previous high.
Report reveals what pushed Ethereum above $1,800
According to a recent X post by Santiment, the day that saw the greatest number of new wallets arise since early October was the primary driver, pushing ETH above $1,800.
If the Ethereum network continues to develop over time and the amount of ETH available on exchanges continues to decline, according to the company’s analytics team, “ETH has justification to cross $2,000 once again.” As as right now, Ethereum supply is at its lowest point since ETH Genesis.
https://x.com/santimentfeed/status/1719726289442267595?s=20
Vitalik Buterin deposits ETH to Coinbase
Ethereum co-founder Vitalik Buterin moved a modest quantity of ETH to Coinbase, the biggest cryptocurrency exchange in the US, as previously reported by U.Today. The transfer involved 100 ETH, which is valued at $181,000. Upon Vitalik’s transfer, each coin was worth $1,810.
He also transferred 400 ETH to the same cryptocurrency trading platform in September of this year. Buterin also made a 600 ETH payment to Coinbase in August; at the time, 600 ETH was valued at almost $1 million.
Buterin transferred 1,000 ETH to Bitstamp in October, where it was sold for $1.67 million. The Ethereum leader has transferred almost 4,400 ETH to Bitstamp over the course of the last two months, selling it for about $7.23 million in currency.
According to statistics from CoinMarketCap, the price of ETH at the time of writing is $1,798.
