Ethereum News: Whales Accumulate Significant Amount of ETH Amid Price Volatility

Ethereum’s price movement has been the center of attention recently, with whales accumulating a substantial amount of ETH as the cryptocurrency approaches a key resistance level. Here’s a summary of the recent developments:

Ethereum Whales Accumulate 1.1M ETH as Key Resistance Nears $2.8K

Ethereum investors have been actively managing their exposure during recent price fluctuations. A significant accumulation at $2.2K suggests a key support level, while $2.8K stands as a resistance point. Notably, whales have acquired 1.10 million ETH, indicating strong market interest. Ethereum’s price movement reflects investors’ dynamic actions, with the token rallying to $2.5K and then retracing to $2.05K. Data from Cost Basis Distribution (CBD) shows capital rotation across price ranges, revealing which investors took advantage of the dip. According to Glassnode, holders with an initial cost basis of $3.5K have been actively participating, reducing their exposure in February by selling at the local peak of $2.5K and re-entering at $2.05K.

The Next Big Ethereum Rival? This Explosive Presale Raised $11M and Is Targeting a 10x Surge

The era of the Ethereum price hype could be coming to an end. The cryptocurrency market saw a new opportunity when IntelMarkets launched its presale and secured more than $11 million. The platform has a token price of $0.09 which will rise to $0.10 in the next stage. The combination of advanced AI tools with dual chain support could allow IntelMarkets to become a powerful rival against Ethereum (ETH). Many investors have their eyes on this emerging platform because it shows signs of a potential 10x surge.

Mint Blockchain Overview & MINT Market Cap Analysis

Mint Blockchain is an Ethereum Layer2 network developed by NFTScan Labs and the MintCore team, dedicated to building infrastructure for NFT assets. The project started in October 2023, with its mainnet officially launching in May 2024. Built on OP Stack, Mint Blockchain operates as part of the Optimism Superchain, leveraging the Ethereum mainnet as its Data Availability (DA) layer to maintain security and EVM compatibility while significantly reducing transaction costs. This ensures greater scalability for the NFT ecosystem. To support the complete lifecycle of NFT assets, Mint Blockchain has introduced five CORE modules: Mint Studio – NFT minting tools, IP Layer – An IP assetization platform, Mint Liquid – Cross-chain liquidity solutions, and RareShop – A marketplace (description truncated for brevity).

Ethereum’s TVL Drops 30% in February

Ethereum’s total value locked (TVL) dropped 27% to $97 billion in February, as the broader decentralized finance sector fell from $217 billion to $168 billion. Market volatility, liquidity shifts, and capital outflows pressured key protocols, according to DappRadar’s analyst Sara Gherghelas. Ethereum, which holds nearly 60% of DeFi’s liquidity, saw its TVL decline mainly due to lower liquidity in liquid staking protocols. Despite the decline, Ethereum’s dominance in this area remains unchallenged.