Ethereum Fees Surge Amid DeFi Activity As Whales Accumulate Positions

Ehereum’s weekly transaction fees have reached their highest levels since April, driven by a surge in DeFi activity and portfolio rebalancing following this week’s $100,000 Bitcoin retracement.

This highlights the increasing demand for Ethereum’s network during volatile market conditions.

Weekly Ethereum fees hit their highest levels since April, driven by significant DeFi activity and rebalancing in response to this week's $100K market retracement. pic.twitter.com/OX8bFLHS1r

— IntoTheBlock (@intotheblock) December 13, 2024

A notable whale activity was observed as address 0x148…640c8 capitalized on the recent price dip. Six hours ago, this wallet purchased 3,669 ETH, worth $14.23 million, at an average price of $3,878. With Ethereum’s current price at $3,918, this position has already yielded a floating profit of $145,000.

新地址 0x148…640c8 在 6 小时前 $ETH 下跌时建仓 3669 枚 ETH，价值 1423 万美金，均价 $3878⚡️

按照 ETH 现价 $3918 计算，该地址已浮盈 14.5 万美金