Ethereum Whale Accumulation
Spot On Chain reported that earlier today, the whale acquired approximately 13,526 ETH at an average price of $2,947 per ETH. This accumulation, valued at over $39 million, adds to the already substantial holdings of the whale, suggesting a bullish outlook on Ethereum’s future trajectory.
Additionally, Spot On Chain highlights the withdrawal of an additional 40 million USDT from Binance, prompting speculation regarding its potential use for further Ethereum purchases.
Giant whale 0x7a9 allegedly bought 13,526 ($39.85M) at ~$2,947 again!
Overall, the whale has bought 64,501 ($185.5M) in the past 3 days! It also withdrew another 40M from… — Spot On Chain (@spotonchain)
• withdrew 10,136 ($29.85M) from
• bought 3,390 with 10M
Ethereum’s Price Action And Expert Sentiment
Ethereum has continued to showcase bullish momentum, trading up by nearly 6% over the past week. However, despite briefly surpassing the $3,000 mark, Ethereum has retraced slightly in the past 24 hours, trading around $2,900 at the time of writing.This pullback has not dampened optimism within the crypto community, with many anticipating further upward movement. Industry experts have weighed in on Ethereum’s performance, with Stefan von Haenisch of OSL SG Pte in Singapore the cryptocurrency’s potential to outperform Bitcoin in the coming months.
Haenisch attributes this optimism partly to speculation surrounding the potential approval of spot Ethereum exchange-traded funds in the US. Michaël van de Poppe, CEO of MN Trading, echoes this sentiment, forecasting a potential surge for Ethereum to $3,800 to $4,500 shortly.
is on its way towards $3,800-4,500. — Michaël van de Poppe (@CryptoMichNL)Featured image from Unsplash, Chart from TradingView