There is a Strong Signal to Buy Ethereum (ETH), Here's Why!

Bittime - The crypto market is experiencing high volatility again, causing billions of dollars to be liquidated. 

However, in the midst of this volatility, crypto whales are starting to shift their focus to Ethereum (ETH), the second largest crypto asset based on market capitalization. Read this article to find out more!

Whales Buy Ethereum

In the last 24 hours, there has been a strong signal to buy Ethereum (ETH), as evidenced by the millions of dollars used to buy ETH. 

Based on a report from EyeOnChain on February 3, 2025, a whale borrowed USDT worth $28.3 million to buy 10,000 ETH when the price was trading around the $2,817 level. 

Additionally, a crypto wallet known as 7 Siblings also purchased 50,429 ETH for a total value of $126 million, for an average price of $2,480 per coin.

Read Also: How many Rupiah is 1 Ethereum? This is how much ETH to IDR conversion is today!

Buy Ethereum: ETH Outflow  

Not only big purchases by whales, data from Coinglass shows that in the last 24 hours, there has been an outflow of $228 million worth of ETH from crypto exchanges. 

This indicates that large investors are accumulating Ethereum by withdrawing their assets from trading platforms. 

Large outflows when prices are undergoing a correction are often considered good buying opportunities. 

With Ethereum buying pressure increasing, it is not impossible that the price of ETH will experience a spike in the near future.

Strong Signal to Buy Ethereum: ETH Price At the moment

Ethereum touched its lowest level at $2,325 before finally experiencing a significant recovery to reach $2,700. 

Despite the recovery, ETH prices are still down around 12% in the last 24 hours, but ETH buying interest remains high, as evidenced by a spike in trading volume of up to 270% in the same period.

Read Also: Top 5 Meme Coins on the Ethereum Network, There are Shiba Inu and FLOKI!

Conclusion: Time to Buy Ethereum?

Massive accumulation actions by whales and increasing outflows from exchanges indicate that ETH may be in an ideal buying phase.

For those of you who want to buy Ethereum, it is important to consider technical analysis and market momentum before making a decision. 

With ever-changing market trends, active monitoring and a proper investment strategy will go a long way in gaining maximum profits from ETH price movements.

Read Also: Top 5 Meme Coins on the Ethereum Network, There are Shiba Inu and FLOKI!

Ethereum FAQs

What is Ethereum?

Ethereum is a blockchain-based platform that allows developers to build and run DApps. By using smart contracts, Ethereum ensures that transactions and agreements are executed automatically without the need for intermediaries. 

How many Rupiah is 1 ETH?

Currently, 1 ETH is worth IDR 45,590,112 based on the Bittime market. 

1 ETH How much is USD?

Currently, 1 ETH is worth $2,781.13 according to Coinmarketcap. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Coinpedia, Strong Buying in Ethereum, Time to Bag ETH, accessed February 5, 2025.

Coinmarketcap, Coinmarketcap Ethereum Currency, accessed February 5, 2025.

Author: IPR