11,000 Wall Propels Ethereum to $380

ethereum brief 380 oct 2020

Ethereum seems to have turned a bit bullish with someone putting up an 11,000 eth bid wall on Coinbase. That’s worth “just” $4 million, but in a field of 10 eth bids or 100 eth, it stands out and considerably. The wall was gradually consumed from $360 onwards with it propelling eth to a brief $380 twice as pictured in the featured image. The question is of course why did this person decide to place such a big bid and so publicly with the end effect of raising the price instead of chopping up the sum to be less noticable. One reason is perhaps because he or she thought eth would rise and so wanted to buy quickly, with it unclear whether there’s something this person knows that others don’t know. The ethereum 2.0 Zinken dry run is tomorrow, with the genesis block to then launch shortly after if all…

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