Large Ethereum (ETH) transfer raises eyebrows. Meanwhile, Algotech’s (ALGT) presale promises a certain profit.
How has this development affected the Ethereum price prediction? And how can investors participate in Algotech’s (ALGT) presale? Let’s find out!
TLDR
- The Ethereum price prediction for 2024 is $6,646.04.
- Algotech (ALGT) is the safe haven in the storm of uncertainty.
Ethereum Price Prediction: $1 Billion ETH Sent to Exchanges
The crypto market was agog on January 26, 2024, when news filtered in that bankrupt crypto lender Celsius had transferred $1 billion worth of Ethereum (ETH) to various exchanges within nine hours. The action raised fears that it could trigger a sell-off, pushing a fragile Ethereum (ETH) down to the critical support level of $2,000.
According to Lookonchain, 297,454 ETH worth $656.5 million was sent to Coinbase Prime, and 146,507 ETH valued at $323.3 million was transferred to Paxos Treasury.
Also, 7,800 ETH worth $17.2 million was sent to both Falcon X and Coinbase. However, Celsius still holds 62,468 ETH, valued at $139 million, in reserve.
These large transfers are in preparation for Celsius’s repayment program. However, analysts say it could exert sell pressure on Ethereum (ETH) and trigger a general market slump.
But so far, Ethereum (ETH) has been able to hold up. ETH price has gained 4.5%, surging from $2,217.44 to $2,317.06 as the market begins another rally. However, analysts say the sell pressure might only be felt once the repayments begin in early February.
But with a bull market predicted after Bitcoin’s halving, analysts say Ethereum has a good chance of recovery. The premier altcoin could reach $6,646.04 in 2024.
So, if you’re asking yourself: “Should I buy Ethereum,” analysts’ advice is to wait till after Celsius repays its investors.
Analysts Say You Don’t Need To Wait To Buy Algotech (ALGT) Tokens
Since Algotech (ALGT) released its whitepaper, analysts and investors have spoken about its potential to be one of the best DeFi projects. This is because of its revolutionary and high-demand use case. Algotech (ALGT) is focused on automating crypto trading for beginners and experienced traders, making it more efficient and profitable.
The project has developed a decentralized algorithmic trading platform that utilizes advanced technology like artificial intelligence and machine learning to create winning trading strategies. Algotech (ALGT) also safeguards your entire trade through automated risk management features.
Manual trading comes with inefficiencies and issues like limited analytical capacity, inconsistent execution, subjectivity and bias, and exhaustion. Algotech’s (ALGT) algorithmic trading solves these issues by providing all relevant data within easy reach and feeding this data into a machine-learning algorithm that prescribes the best trading strategy.
The platform also adheres to the blockchain principle of decentralization. This ensures all trades on the platform can be seen by users. Also, Algotech’s (ALGT) robust infrastructure, which is equipped with high-frequency technology (HFT), can handle a high volume of trades without losing speed and efficiency.
These features helped Algotech (ALGT) raise $1.1 million in two days during its private sale. Furthermore, Algotech (ALGT) offers a sure investment option to investors dealing with the current uncertainty in the market. They can purchase ALGT during Stage 1 of the presale for $0.04 and gain 275% when the project launches.
In addition, early investors earn a part of the performance fees Algotech (ALGT) charges successful traders on the platform. They also get governance rights and own part of the software.
All these make Algotech (ALGT) the best crypto to invest in now.