Ethereum hits $4K, PEPE reaches new ATH, Coinbase to list MOG, Upbit adds MOVE

by Charles Thuo December 9, 2024 26 min read

(Originally posted on : Invezz )

Earlier today, Ethereum’s price briefly hit $4,000 before pulling back following strong institutional interest and whale activity.

At the same time, PEPE also hit a new all-time high, while MOG has witnessed a meteoric surge following a Coinbase listing.

Movement (MOVE), a relatively new Ethereum L2 solution token has also been listed on Upbit.

Ethereum price briefly taps $4k before tumbling

On Monday, December 9, morning Ethereum (ETH) price briefly hit $4,000 for the first time since March, before pulling back to around $3,884.78 at press time.

The ETH brief surge to $4k can be attributed to multiple factors including strong institutional interest through US spot Ethereum ETFs and whale activity that has injected substantial liquidity into the market.

A particularly noteworthy development is the movement of Ethereum whales.

On December 5, a long-dormant whale transferred 60,079 ETH worth $234 million into Bitfinex after nearly six years.

This strategic move marked a major profit-taking opportunity, as the whale’s initial investment in January 2019 was only $13.4 million.

Spot On Chain

@spotonchain

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A giant whale just deposited its remaining 60,079 $ETH ($234M) to #Bitfinex after nearly 6 years of holding!
The whale withdrew 87,085 $ETH from Bitfinex in Jan 2019 at only $153 ($13.4M).
Later, the whale sent 600 $ETH to Tornado Cash in 2020 and redeposited 86,484 $ETH in Nov…

8:41 AM · Dec 6, 2024

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On December 8, another giant whale deposited its last 11,639 ETH ($46.37M) to Kraken.

The 11,639 ETH was part of the 96,639 ETH that the whale withdrew from Coinbase at only $1,580 on average between August 31 and September 7, 2022.

Moreover, Ethereum ETFs have shown a bullish trend with record inflows, reaching $1 billion within just 96 trading days and a single-day record of $434.6 million on December 5, 2024.

Spot On Chain

@spotonchain

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🇺🇸 US #Ethereum ETFs have surpassed $1 billion in cumulative net inflows after 96 trading days! 🔥
Notably, on Dec 5, 2024, ETH ETFs recorded $434.6M in inflows, the largest since launch, marking 9 consecutive positive days—the longest streak yet.
#BlackRock (ETHA) led the way,…

7:42 AM · Dec 6, 2024

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BlackRock’s ETHA ETF has been a driving force, accumulating ETH valued at $1.88 billion, solidifying its position as a key player in the market.

PEPE hits new ATH after weekend rally

PEPE, a popular meme token, has seen an explosive price surge over the weekend, climbing to an all-time high of $0.00002717 on Monday and flipping Uniswap (UNI) and Litecoin (LTC) in market cap rankings.

PEPE’s market cap has surged above $10 billion, placing it in the top 20 by market capitalization.

This growth is driven by strong whale activity, which has seen a $1.14 billion increase in holdings over the weekend, signalling sustained bullish momentum.

Ali

@ali_charts

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Whales increased their $PEPE holdings by $1.14 billion yesterday! 👀👀

8:01 PM · Dec 8, 2024

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PEPE’s accessibility has also improved with MoonPay recently enabling PEPE purchases through Apple Pay and Venmo.

Mog Coin surges 70% after Coinbase listing

MOG, another meme coin, has also experienced a notable uptick following Coinbase’s addition to its listing roadmap on December 3.

The Coinbase listing has spurred a 70% increase in MOG’s value, bringing its market cap close to $1.44 billion and placing it among the top 100 cryptocurrencies by market capitalization.

Meme coins like MOG thrive on community engagement and internet hype, making them highly volatile and difficult to predict but also capable of significant gains in short time spans.

Ethereum L2 solution token Movement (MOVE) gets listed on Upbit

Movement (MOVE), an Ethereum Layer 2 solution, is another notable mention in the current crypto landscape as the week kicks off.

Movement is designed to enhance scalability and transaction efficiency by supporting both MoveVM and EVM transactions, making it a viable solution for faster and more cost-effective Ethereum-based transactions.

The Movement (MOVE) token is expected to hit the market on a high note after Upbit, one of South Korea’s largest exchanges, announced it has listed it across the KRW, BTC, and USDT markets.

Upbit Korea

@Official_Upbit

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신규 디지털 자산 무브먼트(MOVE) 거래지원 안내
✅ 지원 마켓: KRW, BTC, USDT 마켓
📅 거래지원 개시 시점: 2024-12-09 21:00 예정
🔗 공지 바로가기:
upbit.com/service_center…
#Upbit #MOVE

8:41 AM · Dec 9, 2024

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The listing is expected to boost MOVE’s visibility and trading volume, thereby expanding its accessibility to both local and global investors.

The listing on Upbit highlights the growing demand for Ethereum Layer 2 solutions in South Korea, a region known for its active crypto adoption.

MOVE’s integration with both MoveVM and EVM transactions makes it attractive to developers and merchants seeking interoperable and efficient blockchain solutions.

The post Ethereum hits $4K, PEPE reaches new ATH, Coinbase to list MOG, Upbit adds MOVE appeared first on Invezz

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