Ethereum Up 17% On The Week: What Is Going On?

Crypto analysts are seeing signals that Ethereum (CRYPTO: ETH) may soon rally against Bitcoin (CRYPTO: BTC), potentially reversing recent underperformance.

What Happened: According to Lookonchain, a major Ethereum whale with holdings of 398,891 ETH ($1.14 billion) recently sold 29,897 ETH at $2,839 for a profit of $84.7 million (810x return), signaling confidence among some high-stake investors in ETH’s future trajectory. He continues to hold 368,992 ETH ($1.07 billion).

Ethereum has rallied 17% over the past seven days, prompting bullish forecasts from traders and analysts:

• Crypto trader “Astronomer” swapped half of his BTC for ETH, calling it “the meme trade of the year.” He points out that while BTC is up 30%, ETH has risen only 10% but predicts Ethereum’s rally will …

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