Transfer of $541M Worth of Ethereum to Coinbase: Impact on ETH’s Response

In spite of the continuous ups and downs in the world of cryptocurrency in the year 2024, there are clear indications of several remarkable bullish surges. Take Bitcoin, for example, which has recently skyrocketed above the $73.5K threshold. Although it faced a short-lived period of bearishness, it quickly resumed its upward climb, surpassing the $70K mark. On the other hand, Ethereum’s progress seems to be more steady, as the currency still lags behind its all-time high by approximately 26%. Nonetheless, the Ethereum community is eagerly awaiting substantial advancements within its ecosystem.