Whale Purchases $49 Million in ETH and Stakes 16,000

IconCryptoNewsTerminal Staff11 Jul, 2024

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Whale Purchases $49 Million in ETH and Stakes 16,000

A whale has recently made a significant purchase of 16,074 ETH, valued at approximately $49.24 million. According to data from Lookonchain, the whale acquired the ETH from exchanges like Bitfinex, Binance, and Coinbase over the past week, starting from July 5, 2023 (UTC). Notably, the whale has since staked 16,000 ETH, demonstrating a long-term bullish outlook on the cryptocurrency. This move has not gone unnoticed by the crypto community, sparking discussions about the potential impact on the market.