Substantial Ethereum Whale Acquisition
As the crypto market enters a bullish phase, a significant Ethereum (ETH) whale made a massive acquisition, accumulating $155.7 million in ETH. This comes as Ethereum edges closer to the $3,000 mark, sparking optimism among investors.
Anonymous Hefty ETH Acquisition
In a recent tweet post SpotOnChain, a prestigious cryptocurrency analysis firm sheds light on the anonymous acquisition made by Whale. This influential whale secured 22,719 Ethereum (ETH), making a noteworthy investment of $65.7 million in just 50 minutes. The strategy involved a strategic withdrawal of 19,226 ETH, equivalent to $55.6 million, directly from Binance and a swap of 10.1 million USDT for 3,493 ETH through the decentralized finance (DeFi) platform 1inch.
24-Hour Buying Spree
Over the last 24 hours, this crypto whale has been on a buying spree, accumulating a total of 54,721 ETH through transactions on Binance and 1inch. The estimated expenditure for this significant ETH acquisition stands at approximately $155.7 million, with the average purchase price hovering around $2,845 per ETH.
Ethereum Price Near $3k
Some analysts believe that this could attract more attention from institutional investors towards Ethereum. The potential launch of a spot ETH ETF might contribute to further driving up Ethereum’s price as it inches closer to the significant $3,000 milestone. The price of Ethereum has surpassed the $2,910 mark, representing a 3.69% increase, and its trading volume has seen a surge, jumping by 53.44% to reach $26.65 billion in the last 24 hours.
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