- After BlackRock filed for an Ethereum ETF spot, ETH jumped above $2,100.
- Ethereum and Tron’s founders deposited large sums of ETH onto exchanges.
- ETH was overbought but an increase in buying pressure could drag it up to $2,500.
After enduring a series of bashings from the crypto community, Ethereum (ETH) finally broke out and jumped above the $ 2,000 psychological resistance. The price rise was connected to the disclosure that leading investment firm BlackRock had filed for an ether ETF.
The development resulted in an increased demand for ETH, thereby positively impacting the price action. At press time, ETH changed hands at $2,121, according to data from CoinMarketCap. Following the surge, many market players are now calling for ETH to reach $2,500 and beat down the dominance of bitcoin (BTC).
Big Players Move ETH
Another interesting development that occurred after the price increase was revealed by the smart money tracking platform Lookonchain. According to Lookonchain, Tron (TRX) founder Justin Sun and Ethereum co-founder Vitalik Buterin both sent ETH worth millions of dollars into exchanges.
In the past hour, #JustinSun transferred 580 $ETH ($1.…The post Ethereum (ETH) Rallies On BlackRock ETF Filing: Next Stop $2500? appeared first on Coin Edition.