Anonymous Whale Adds 1800 ETH to Holdings, Brings Total Purchases to $100M
CryptoNewsTerminal Staff09 Aug, 2024
Anonymous Whale Adds 1800 ETH to Holdings, Brings Total Purchases to $100M
An anonymous whale has been on a buying spree, accumulating 1800 ETH (worth around $4.7 million) in the past 30 minutes alone. This brings the whale's total ETH purchases since May 24th to a staggering 37800 ETH, with an approximate value of $99 million. According to data from Lookonchain, the whale's average entry price was around $2420, meaning they are currently sitting on an unrealized profit of $7.5 million at the current price of ETH. It is unclear what the whale's intentions are, but their significant purchases suggest they are bullish on the long-term prospects of Ethereum. Whales have historically played a major role in influencing the price of ETH, so their actions are closely watched by traders and investors. The recent accumulation by this whale is just one example of the growing interest in Ethereum from institutional and retail investors alike. As the popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) continues to grow, demand for ETH is expected to remain strong.
