Ethereum Price Forecast: Justin Sun Buys $5 Million In ETH Ahead Of Ethereum ETF Approvals As Investors Rush To Buy This P2E Token As Listing Nears

The Ethereum worth rose 1% within the final 24 hours to commerce at $3,109 as of 03:48 a.m. EST on buying and selling quantity that dropped 2% to $13.5 billion.

This comes as information from Spot on Chain exhibits that Tron founder Justin Solar invested $5 million to accumulate 1,614 ETH, bringing his accumulation of ETH to 362,751 since February 8 by way of three wallets for an estimated whole funding of $1.1 billion.

12 hours in the past, Justin Solar (@justinsuntron) allegedly spent 5M $USDT to purchase 1,614 $ETH at ~$3,097.

Since Feb 8, Justin Solar may need purchased 362,751 $ETH (est. value: $1.11B) at ~$3,047 by way of 3 wallets (extra particulars in earlier posts 👇).

Word that he additionally deposited 45M $USDT to… https://t.co/xeW1usR3MJ pic.twitter.com/aJ4zhXFas2

— Spot On Chain (@spotonchain) July 11, 2024

The on-chain information supplier additionally reported that Solar has deposited $45 million to Binance, hinting at future Ethereum acquisitions.

The purchases come forward of anticipated spot Ether ETF (exchange-traded fund) approvals, which Bloomberg Intelligence analyst Eric Balchunas expects by July 18.

The rising curiosity from traders has pushed the worth of ETH up from as little as $2,883 originally of July to rise by a rising channel to the $3,126 resistance zone, in keeping with information from GeckoTerminal.

Ethereum Worth Set To Surge Over The Rising Channel

The Ethereum worth has just lately surpassed each the 50-day and 200-day Easy Transferring Averages (SMA), with the 50-day SMA crossing over the 200-day SMA to kind a golden cross at $3,084. 

This bullish sign has sparked elevated shopping for exercise from ETH traders, as evidenced by the Relative Energy Index (RSI) rising above the 50-midline degree and approaching the 70-overbought area.

Investor curiosity is rising in anticipation of the Ether ETF approval, which may drive Ethereum’s worth larger inside the rising channel sample. The bullish sentiment, bolstered by the golden cross and rising RSI, units a goal of $3,400. 

Moreover, the current classification of Bitcoin and Ethereum as commodities by CTFC Chairman Rostin Behnam in Illinois could finish the continued debate over whether or not they’re securities, including additional constructive sentiment to the market.

🚨CFTC Chairman Behnam says an Illinois courtroom confirmed that $BTC and $ETH are digital commodities below the Commodity Trade Act.

— Eleanor Terrett (@EleanorTerrett) July 10, 2024

Nevertheless, if the bears acquire management, Ethereum’s worth may see a slight decline to the following assist degree at $2,969. 

Because the Ethereum worth prepares for take off, traders are dashing to spend money on the eTukTuk (TUK) presale earlier than it ends in lower than 4 days.

eTukTuk Presale Garners Over $3.5 Million – Much less Than 4 Days Left 

eTukTuk has launched the progressive play-to-earn recreation referred to as Loopy Tuk Tuk Taxi during which gamers drive an electrical tuk-tuk by the bustling streets of Sri Lanka

Impressed by the basic recreation Loopy Taxi, gamers decide up and drop off passengers as shortly as doable to earn rewards. The sport presents alternatives to improve automobiles, unlock new cities, and expertise varied adventures.

TukTribe, are you able to customise, race, and earn together with your digital eTuktuks in essentially the most eco-friendly and exhilarating recreation ever? 🛺💚

Each race you win helps us drive sustainability, innovation, and carry us by the tip of the presale and $TUK itemizing on a significant… pic.twitter.com/kM1OVfp75i

— eTukTuk (@eTukTukio) June 4, 2024

By collaborating within the presale, gamers can acquire early entry to unique in-game rewards and distinctive upgrades. This recreation combines the thrill of fast-paced driving with the advantages of incomes actual rewards whereas having fun with the gameplay.

The sport has already garnered over 3,000 new downloads and continues to develop in reputation. You possibly can obtain the sport by way of the App Retailer or Google Play Retailer.

Completely happy weekend, TukTribe! 🌟

We’re thrilled to announce that we’ve had over 3000 new app downloads this week alone! 🎉

We’re loving the thrill and assist. Our group’s nearly finished prepping for the DEX & CEX launch. Able to moon, $TUK holders? 🚀#Sustainability 🛺♻️ pic.twitter.com/8nOe5lhED4

— eTukTuk (@eTukTukio) June 22, 2024

Other than P2E gaming, the mission goals to contribute an eco-friendly way forward for transportation, first in creating nations, after which worldwide, by rolling out electrical tuk tuks and electrical car charging stations. 

In line with Jacob Bury, a outstanding crypto analyst on YouTube, $TUK may probably surge 10X after its launch.

The TUK token is priced at $0.0345. With lower than 4 days remaining earlier than the token sale ends, now could be the proper time to buy it forward of its itemizing. 

You should purchase TUK tokens utilizing ETH, USDT, BNB, or a credit score or debit card.

Go to the official eTukTuk web site to make your buy.

Associated Information