After a turning of Ethereum (ETH) of $ 1.4 billion Go through On February 21, 2025, the exchange began to buy ETH, as reported by the Intelligence Company Crypto Arkham. According to a recent report by Arkham Intelligence, Bybit spent nearly 100 million USDT to buy 54,393 ETH at an average price of $ 2,711, which was then deposited in the stock market.
However, this substantial quantity of Ethn Was bought by Galaxy Digital and Falconx via over -the -counter trades (OTC).
The CEO of Bybit shows gratitude
Following this purchase of Eth, noted CEO Ben Published on X (formerly Twitter) that they had received the support of large cryptography companies, notably Antalpha, Bitget, Pionex, Mexc, Mirana, Sosovalue, Solana Foundation, Ton Foundation, Blockchain Center Dubai, Ghaf Capital, Bitvavo, Tether and Galaxy.
ETH MOMENTUM of current price
With this substantial purchase, ETH experienced an impressive increase rally. At the time of the press, ETH is negotiated nearly $ 2,780, reflecting a price wave of more than 2.50% in the last 24 hours. Meanwhile, its trading volume increased by 10% during the same period, indicating increased participation of merchants and investors compared to the day before.
$ 155 million for ETH Flow
Despite the rise in ETH prices, long -term holders and investors seem to pour their assets at the same time as Bybit began to show his interest in the purchase of ETH. Coinglass data reveal that exchanges have experienced an influx of $ 155.50 million ETH, indicating a potential sale.
In this market state, such entries on exchanges can create a sale pressure and cause a new drop in prices. However, the market has opposed this trend, and ETH surpassed Bitcoin and XRP with an increase up of 2.5%.
Technical analysis of Ethereum (ETH) and upcoming levels
According to an expert technical analysis, ETH is currently consolidated in a narrow range between $ 2,560 and $ 2,800 and is on the verge of break. Based on recent prices action, if ETH violates this consolidation and closes a daily candle above $ 2,820 level, there is a strong possibility that it can rise by 10% to reach 3 $ 100 in the near future.
Despite these upward perspectives, ETH is still negotiated below the exponential mobile average (EMA) on the daily time, indicating that it remains in a downward trend.