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Ethereum ‘Mega Whales’ Accumulate as ETH Eyes $6K
Recent on-chain activity indicates a significant surge in Ethereum whale accumulation. Two major whales have invested over $400 million in Ethereum during the recent price drop, demonstrating confidence in the asset’s future growth.
One of these whales has spent around $300 million through Galaxy Digital’s OTC desk within just three days. This enormous buy order was executed away from public exchanges to avoid market fluctuations and maintain anonymity. The whale’s unrealized loss now stands at approximately $26 million, further emphasizing their long-term commitment to the asset.
A second major Ethereum whale has also made a significant purchase of 30,755 ETH in two days for a total value of around $108.57 million. This transaction occurred through Lookonchain and showcases the whale’s determination to increase their Ethereum holdings despite recent market fluctuations.
These enormous purchases suggest that these whales are convinced that Ethereum is about to see a strong rebound towards $6K or higher.
Source: coinchapter.com
