Whales Are Taking Profits As Ethereum Hits $1.9k And Tradecurve Surges 25%
Even though the Ethereum cryptocurrency faced numerous challenges, it has begun to display a continuous green trend and could soon reach the $2K price point. The recent market trends have seen Ethereum face a rejection above its $1.9K mark, causing long-term holders and investors to look elsewhere for significant gains.
However, another altcoin managed to spike in value by 25%, and that’s TCRV, Tradecurve’s native utility token. We will go over how both of these price movements have affected the broader crypto space.
Ethereum Climbs to $1.9K as Whales Begin Taking Profits
One key element that has contributed to the selling pressure of Ethereum is the profit that has occurred across whales of the cryptocurrency. One notable Ethereum holder transferred a total of 23,080 ETH, which is equivalent to $44 million. This move indicates that a large number of stakeholders have begun to capitalize on the gains due to the recent price surge of the cryptocurrency. The average price at which the whale withdrew Ethereum is around $1,820, and this is much lower than the most recent price spike, indicating that there is a cautious strategy toward risk management.
As of May 30, 2023, the Ethereum cryptocurrency trades at $1,911.62. Within the last two weeks, Ethereum spiked by 5.4%. In the last three days alone, it has neeb up by 3.3%. Its weekly low was at $1,775.66, while its weekly high was at $1,917.62. But Ethereum isn’t the only cryptocurrency to surge, as another altcoin saw a 25% increase, and that altcoin is TCRV.
TCRV is the utility token used across the Tradecurve exchange, and it has seen a significant level of attention and growth throughout the previous week as it increased by 25%. A week ago, 1 TCRV token was worth $0.012. Now, each TCRV cryptocurrency is worth $0.015 as it transitions to Stage 3 of its presale. 9,929,843 tokens have already been sold, and at Stage 4, the price will increase to $0.018.
The key reason why TCRV gained such a high level of momentum is that the exchange aims to democratize the DeFi space for anyone and enable anyone globally access not to just cryptocurrencies, but to any derivative as well, without the need to complete a KYC procedure.
Anyone from anywhere can just deposit crypto on top of Tradecurve and begin trading. The platform features high leverage from 500:1, a VIP account system, negative balance protection, and the exchange innovates by implementing AI-trading bots that allow users to engage in algorithmic trading and optimize their portfolios. All of this, coupled with the future Proof of Reserves (PoR) implementation and dedicated Trading Academy, analysts are predicting that TCRV can spike by 100x at launch.
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