- ETH was down by more than 1.5% in the last seven days.
- If ETH initiates a bull rally, it might face resistance near $2,300 and $2,400.
The year 2024 began on a sweet note as Ethereum’s [ETH] value surged above $2,400. However, the king of altcoins witnessed a price correction, pushing its value under $2,300 once again.
While this happened, an interesting whale activity occured.
Ethereum’s chart turns red
After a comfortable beginning in 2024, ETH fell victim to a price correction on the 3rd of January. Because of the price correction, ETH’s value plummeted by more than 1.6% in the last seven days.
According to CoinMarketCap, at the time of writing, Ethereum was trading at $2,243.76 with a market capitalization of over $269 billion. Amidst this, Lookonchain recently posted a tweet highlighting an intriguing development.
It seems that #Paradigm deposited 6,500 $ETH($14.67M) into #Coinbase 2 hours ago.#Paradigm is very smart, accumulating $ETH in bear markets and selling
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