Ethereum holders watched a wallet tied to the Ethereum Foundation sell on November 10. It sold 1,000 ETH, worth $2.13 million, and ETH is down 7.7% since its last sale.
Yet whales make over 630 stETH transfers of $100,000 or more a day, borrowing against staked ETH instead of selling. Whether the seller or the borrowers set the next level is the question for this week’s ethereum price prediction.
The headlines belong to the foundation and the whales, but ETH’s biggest gains came one step earlier, before any listing. At that stage sits Pepeto, a presale that has drawn more than $11.3 million while building a bridge between five chains.
Ethereum Price Prediction: Foundation Sale Leaves ETH Below $2,124 Resistance
ETH’s next test is $2,124, 1% above its $2,097 price on November 10, and a daily close above it opens $2,200, 5% higher. A failure keeps the seven day low of $2,085 in play, less than 1% below.
Still, the whale borrowing keeps coins off the market, since staked ETH held as collateral is not being sold. ETH traded at $2,443 a week ago, so a return there means a 16% gain.
However, the money parked on Ethereum is shrinking. Stablecoins and tokenized funds on the chain fell 19% between April 18 and November 8, to $168.3 billion.
That slide began with the $292 million KelpDAO breach through a cross chain bridge. For a coin worth $256 billion, even the climb back to $2,443 pays $1,000 and $1 million the same 16%.
In practice, the ethereum price prediction rests on billions returning to a chain that lost $38 billion after a bridge failed. That demand for safe transfers between chains is what Pepeto’s bridge is being built to meet.
Why Did Big Investors Fund Pepeto’s Bridge While ETH Lost 15%?
Big investors funded Pepeto’s bridge because it answers the risk the KelpDAO breach exposed. While the foundation sells and whales borrow, Pepeto, a meme coin with an exchange in development, kept raising money in the month ETH lost 15%, reaching more than $11.3 million.
Most bridges charge $15 to $50 a transfer and rely on an operator who can be hacked. Pepeto’s bridge locks coins on one chain and mints them on the other across Ethereum, BNB Chain, Solana, Base and Arbitrum in under 60 seconds.
It charges $0 beyond gas, has no operator, and returns the coins when a transfer fails, so a trader moving funds ten times a month keeps $150 to $500.
The team is finishing these tools before launch, with private testing access for community members and big investors. A zero fee exchange and a scam scanner sit beside the bridge.
The stage price is $0.0000001906 and climbs each time a stage closes, on a timer or a sales goal. A former Binance expert sits on the development team, and the expected Binance listing would put the token in front of a much larger market.
That money came in while ETH dropped from $2,443 to $2,097, and large buyers who commit during such a drop usually spot a launch before the crowd.
Conclusion
ETH fell to $1,523 on October 12, 2023, after a hotter inflation report pushed buyers out, and reached $4,088 on March 12, 2024. That 168% gain went to the buyers who acted at the low, while later buyers paid more than double.
This week’s ethereum price prediction runs from a test of $2,085 to a 16% climb back to $2,443. Pepeto’s presale kept selling stages through the same drop and passed $11.3 million.
An ETH holder who waits for $2,443 gets 16% if the borrowers win this week. A buyer entering Pepeto now gets the current stage price, and that price is gone once Pepeto lists, the way $1,523 was gone for ETH buyers by 2024.
Click To Visit Pepeto Website To Enter The Presale
