ETH (Ethereum) fell 4.83% in the last 24 hours.

Gate News Bot news, on November 4th, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $3545.88, down 4.83% in the last 24 hours, with a high of $4173.51 and a low of $3481.85, and the 24-hour volume reaching $53.22 billion. The current market capitalization is approximately $427.98 billion, a decrease of about $21.726 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides the infrastructure for decentralized applications (DApps) and smart contracts, supporting a wide range of application scenarios including decentralized finance (DeFi), non-fungible tokens (NFT), and various blockchain innovations. The Ethereum ecosystem has the largest developer community, driving the development of Web3 and the digital revolution.

Important recent news about ETH:

1️⃣ The behavior of large investors has a significant impact on the market Recent actions by some large investors have drawn market attention. A trader known as “the 100% win rate giant whale” has an ETH long position liquidation price close to the current market price, just 4% away. Meanwhile, another well-known trader, Machi, has reopened an ETH long position with 25x leverage after previously suffering a $15 million loss. These high-leverage operations reflect the divergence among market participants regarding the short-term trend of ETH, which may intensify price volatility.

2️⃣ Institutional investors continue to adjust ETH holding strategies Large institutional investors are actively adjusting their ETH positions. An entity named “7 Siblings” borrowed 60 million USDC from Aave V3 to purchase ETH, indicating that some institutions remain optimistic about ETH's future. Meanwhile, another large address sold 8,000 ETH during the market fall, making a profit of 7.58 million USD and repaying all the borrowed funds. This divergent operation reflects different judgments by institutions regarding the current market environment.

3️⃣ ETH Supply Dynamics Change BitMine continues to significantly increase its holdings of ETH, purchasing 82,353 ETH last week, valued at approximately $305.9 million. However, its pace of accumulation has slowed compared to earlier periods, which may affect market expectations regarding the supply and demand relationship of ETH. Meanwhile, some hackers and arbitrageurs are selling ETH amid market fluctuations, such as an anonymous hacker who sold 2,243 ETH as the price fell, and these actions may put pressure on short-term prices.

From a technical perspective, ETH is currently fluctuating within the range of 3500-3700 USD. The overall market is showing a consolidation trend, and it may continue to look for direction within this range in the short term. Investors should closely monitor the movements of large holding addresses and the operational strategies of institutional investors, as these factors may have a significant impact on ETH's price trend.

This message is not intended as investment advice; investors should be aware of market volatility risks.