Ethereum traders going long with $4k price target might not know this

Ethereum [ETH] traders going long with $4k price target might not know this

Now, moving on to Ethereum, both spot as well derivative market flows appeared more bullish than ever.

There are a lot more traders interested in trading Ether ahead of the coming Ethereum merge in September. The Merge would see the network becoming a fully ‘proof of stake’ blockchain. Interestingly, calls for the end of September have the highest volume at the $4,000 to $5,000 level respectively. That is a bet thatSource: Messari

Even in the spot market, the data sets narrated the same picture. It showcased intense accumulation wherein, aWhales too participated in the good cause. Consider this- the richest wallet on the Ethereum network increased in value by almost a billion dollars over the past 30 days on the back of strong ETH rallies.went from a balance of just over $1.98 billion on 15 July to more than $2.96 billion at time of writing, a nearly 50% increase.

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