11,000 Wall Propels Ethereum to $380 – Trustnodes

11,000 Wall Propels Ethereum to $380

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Ethereum $380, October 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.

11,000 ETH wall, October 2020
11,000 ETH wall, October 2020

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 goes well.

A new study that examined different US states and European countries has concluded lockdowns don’t work, with a political battle raging on in UK as Manchester MPs revolt against local lockdown plans by Boris Johnson, the British PM.

Regeneron is now the new hope, but both TV media and the state in Europe is ratcheting up rarona fearometers. Except Sweden which continues to prove we all are ruled by fools.

In short, it is difficult to predict how stocks will open on Monday, with plenty of reason for hope, and reason to think idiocity knows no logic.

Where eth is concerned, its nature outside of the system makes it appealing in these times of -20% GDP quarters cushioned by trillions of funny money.

So maybe it’s less about what this person knows and we don’t, and more about this person perhaps deciding in the medium to long term, eth is a decent bet.

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