Ethereum Skyrockets 57% Fueled by Whale Actions and Meme Coin Hype

Ethereum has experienced a significant surge, reaching a new all-time high of $4,500. This bullish rally is fueled by a combination of whale activity and the increasing popularity of meme coins. A prominent player in this surge is Abraxas Capital, which recently withdrew over $399 million worth of Ethereum from exchanges in a three-day period. Notably, Ethereum’s price jumped 57% within this timeframe.