Ethereum Whale frenzied buying of $187 million ETH in three days, expected to soar further?
In recent on-chain data, Ethereum Whale appear to be undergoing a lot of accumulation activity, sparking interest and speculation from the ETH community. According to the platform, the Whale Address in question have purchased a total of 64,501 ETH in the last three days, which is about $187 million at current market prices,
Earlier today, Whale acquired about 13,526 ETH at an average price of $2,947 per ETH. This accumulation, worth more than $39 million, adds to Whale's already large holdings and indicates a bullish outlook on Ethereum's future trajectory.
The platform's data further revealed that the Whale withdrew 10,136 ETH from an exchange while buying 3,390 ETH. These purchases bring the total amount of ETH accumulated by the Whale in the last three days to 64,501 ETH.
In addition, an additional 40 million USDT was withdrawn from an exchange, which sparked speculation that it could be used for further Ethereum purchases.
According to the above portfolio image shared, the Whale's Wallet holds a total of 91,321 ETH, in addition to about $49.8 million worth of USDT and 5,485 STETH. The total of these assets is estimated at $334 million.
Ethereum continues to show bullish momentum, rising nearly 6% over the past week. However, although Ethereum briefly broke through the $3,000 mark, it has retreated slightly over the past 24 hours and is currently trading at around $2,900.
This pullback has not dampened optimism within the Crypto Assets community, with Xu Long expecting Crypto Assets to rise further. Industry experts have assessed Ethereum's performance, with Singaporean analyst Stefan von Haenisch noting that the Crypto Assets has the potential to outperform Bitcoin in the coming months.
Heinisch attributed this optimism in part to speculation surrounding the possible approval of a U.S. Spot Ethereum exchange-traded fund. The same sentiment was expressed by Michaël van de Poppe, who predicted that the price of Ethereum could soon soar to $3,800 to $4,500.
(Source: Samuel Edyme)