Ethereum Whale Accumulates 65,000 ETH, Potentially Boosting Price
An Ethereum whale has made significant moves in the crypto market by acquiring around 65,000 ETH in just three days. These eye-catching accumulations coincided with a slight increase in Ethereum’s price, drawing the attention of market analysts and igniting optimism about its potential for further gains.
Upon thorough examination of blockchain data, it was found that the whale executed several noteworthy transactions during this period. One notable purchase took place on February 21, with the acquisition of 13,526 ETH at a price of $2,947. The whale also withdrew 10,136 ETH from Binance and obtained an additional 3,390 ETH through 1inch by exchanging 10 million USDT. Overall, within merely three days, the whale amassed a staggering 64,501 ETH, which is valued at approximately $185.5 million. Moreover, the withdrawal of 40 million USDT from Binance suggests that this whale may have further plans for ETH acquisitions.
Despite facing volatility that kept its price near the $3,000 level earlier in the week, Ethereum experienced a marginal increase of 0.09% in the last 24 hours, currently trading at $2,918. Market sentiment, as indicated by the fear and greed index, remains bullish. Additionally, the anticipated London upgrade is expected to contribute to sustaining positive momentum for Ethereum.
With the Ethereum whale’s recent accumulation of such a substantial amount of ETH, market experts and investors alike are now closely monitoring the potential impact on the cryptocurrency’s price. Analysts like Michael van de Poppe view these accumulations as a positive sign for Ethereum’s future, fueling hopes of further price gains. As the market continues to evolve, Ethereum’s performance and the strategic moves of influential entities will remain in focus, shaping the cryptocurrency’s trajectory for the coming days.
Analyst comment
Positive news. Short analysis: The accumulation of 65,000 ETH by an Ethereum whale is likely to boost the price further. Market sentiment remains bullish, and with the anticipated Dencun upgrade, Ethereum’s positive momentum is expected to continue.
