Ethereum Whales Accumulate $236 Million in three Days
Ethereum (ETH) is facing a tough time, trading below $2,000. Despite this, large investors, known as whales, are buying more ETH. On-chain data reveals a notable increase in whale activity.
On March 21, crypto analyst Ali Martinez shared a chart showing whales buying over 120,000 ETH tokens, worth nearly $236 million, in just three days. This buying spree happened when the price dipped below $2,000. One whale bought 7,074 ETH worth over $13.8 million. This whale withdrew ETH from OKX and deposited it into Aave, a decentralized finance platform. They then borrowed 5 million USDT and used it too buy more ETH. The price of Ethereum fluctuated between $1,872 and $2,060. currently, ETH trades around $1,966, showing a 1.7% weekly gain but a 27% pullback in the past month. Lookonchain reported a whale buying 7,074 ETH.They withdrew ETH from OKX and deposited it into Aave, a DeFi platform. They borrowed 5 million USDT and bought 2,563 ETH for $5 million.
ETH’s price has been choppy, causing some panic selling. However, whales are confident in its future price rise. Standard Chartered predicts ETH could reach $4k by 2025. Retail investors are also optimistic.
- Whales bought over $236 million worth of ETH in three days.
- ETH price is currently around $1,966.
- Analysts predict ETH could hit $4k by 2025.
