Ethereum whales are going on a buying spree, pouring in $280 million just to buy the dip.


Just when Bitcoin was plummeting, something miraculous happened with Ethereum. In the past 24 hours, several super whales went on a buying spree, purchasing a total of $279.5 million worth of ETH. One particularly aggressive trader rolled over an initial capital of $125,000 to $6.99 million through margin trading, achieving a return of 55 times, which is simply extraordinary.
The actions of these whales are not to be taken lightly; they are more savvy than anyone else. Their willingness to buy heavily at this time indicates a strong optimism about the long-term value of Ethereum. From a technical perspective, ETH is holding steady above $4400, which happens to be the support of the 26-day moving average. Every time it drops to this level, there is strong buying support.
The fundamentals of Ethereum are indeed solid, with Layer 2 development thriving and the DeFi ecosystem becoming increasingly prosperous. The number of ETH locked in DeFi protocols has reached an all-time high, and the available ETH in the market is becoming scarcer. Additionally, institutions are continuously increasing their holdings in Ethereum ETFs, with incremental funds flowing in.
The most anticipated event is the upcoming network upgrade of Ethereum, which will significantly enhance performance and user experience. The NFT market has recently shown signs of revival, and Web3 applications are developing rapidly, making the entire ecosystem vibrant. Given the current momentum, it should only be a matter of time before ETH breaks through $5000, and the judgment of the Whales this time is likely to be correct again.
#机构以太坊储备破1000万枚#
ETH-4.03%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
GateUser-87396a62vip
· 16h ago
😀
Reply0
WhenWillTheBrightMoovip
· 16h ago
4400 is now 4200. Is that Whale doing well?
View OriginalReply0
GateUser-229c4c88vip
· 16h ago
Just go for it💪
View OriginalReply1
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)