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Title: Time To Buy Ethereum? Crypto Whale Buys $5.92 Million of ETH
As the cryptocurrency market continues to fluctuate wildly, some savvy investors are taking advantage of the recent downturns and making big bets on their favorite digital assets. One such investor is a crypto whale who has just made a substantial purchase of Ethereum (ETH), sparking speculation about the asset’s potential for future growth.
According to reports from blockchain-based transaction tracker Lookonchain, a newly created wallet has withdrawn a staggering 1,799 ETH worth $5.92 million from Binance in a matter of hours. This sudden and large-scale acquisition has sent shockwaves through the cryptocurrency community, with many wondering if this is the signal they’ve been waiting for to get back into Ethereum.
So, is it time to buy Ethereum? In a word, yes.
Firstly, let’s examine the technical analysis. The recent price action has seen ETH break above a critical support level, and the current momentum suggests that we’re likely to see even more gains in the coming days. The asset has already surged over 8% in the past 24 hours, with trader participation also seeing an unprecedented jump of 15%.
Source: coinpedia.org
