Prominent crypto whales buy Millions of dollars worth of Ethereum (ETH) This amazing acquisition has attracted the attention of the industry.
This strategic ETH accumulation has prompted a broader discussion about the potential impact on Ethereum’s price trajectory, with bullish views from leading analysts.
Crypto Whale buys Ethereum
A high-profile crypto whale, identified as 0x7a9 by blockchain analysis firm Spot On Chain, has made major acquisitions of Ethereum (ETH) totaling $185.5 million over the past three days.
This buying spree included the purchase of 13,526 ETH worth approximately $39.85 million. Individual transactions highlight that 10,136 ETH (approximately $29.85 million) was withdrawn from Binance. It also revealed that it has raised 3,390 ETH in exchange for 10 million USDT per inch.
Furthermore, Whale's activity extended to withdrawing an additional 40 million USDT from Binance, sparking speculation about further ETH acquisitions.
This strategic ETH accumulation by a single entity reflects growing confidence in Ethereum as a leading digital asset. It also raises discussion about potential price implications. Ethereum is currently trading at around $3,000, and the actions of such influential market participants are being closely monitored for their possible impact.
Analysts are closely monitoring the situation, with Michael van de Poppe expressing a bullish outlook on Ethereum and expecting a “strong continuation” of its performance. Similarly, Skew's analysis focuses on Ethereum's resilience and growth potential.
“I am keeping a close eye on this current zone. Depending on the level of spot buying on the push, we will see how strong ETH remains relative to BTC in the near term,” Skew said. said.
He noted that a drop in price, especially around $2,700, should be viewed as a favorable buying opportunity. The $2,300 range, on the other hand, is described as “generational.”
Read more: Ethereum (ETH) Price Prediction 2024/2025 / 2030
Amid these developments, Lark Davis points to the impending Denkun upgrade and the potential approval of an Ethereum ETF in May as catalysts that could propel Ethereum to new heights. Such milestones are important for the Ethereum ecosystem and could increase its attractiveness to retail and institutional investors.
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