Ethereums biggest bag holders are taking advantage of the recent price decline, grabbing a stunning $236 million in ETH in just 72 hours.
Despite Ethereums value struggling below the $2,000 level and some holders getting worried, these big investors are showing strong faith in the cryptocurrency’s future possibilities.
On-chain data shows considerable purchasing activity from these major participants. One whale, specifically, purchased over 7,074 ETH for more than $13.8 million. This whale took out 4,511 ETH (worth over $8.81 million) from OKX and deposited it into Aave, a top DeFi platform. They then borrowed $5 million USDT from Aave and used it to buy another 2,563 ETH on OKX.
Crypto analyst Ali Martinez emphasized this increase in whale accumulation, noting that the recent price retreat allowed them to pick up over 120,000 ETH, valued at roughly $236 million, in just three days.
While Ethereums value has varied between $1,872 and $2,060 during this time, these whales remain calm.
This optimistic activity comes as Standard Chartered analysts predict ETH could reach $4,000 by 2025, changing earlier, more hopeful predictions.
Currently, ETH is trading around $1,966, strengthening after a 7% increase on Wednesday.
The marketplace now exudes positivity, as individual traders journey along the crest of optimistic disposition swayed by the prominent participants, the leviathans. It appears that all are wagering on the Wynn Resorts’ Stock Value Climbs as Wealthy Backer Tilman Fertitta Ups Investment exchange’s sustained triumph!
