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According to reports, an Ethereum (ETH) whale made a massive investment, acquiring $166 million worth of ETH in just three days. According to the latest update from Spot On Chain, this anonymous investor has been actively purchasing large amounts of ETH, trading on major platforms like Binance and 1inch.
Details shared by Spot On Chain emphasize that the latest acquisition by this whale involved a significant amount of $10.01 million, purchasing approximately 3413 ETH at roughly $2933 per ETH about 9 hours ago. This recent purchase is part of a larger trend of buying frenzy, where investors have collectively purchased 58,134 ETH over the past three days at an average price of around $2850 per ETH.
With the remaining balance of $19.89 million, the whale's activity indicates that this may not be the end of their market maneuvers. It is highly likely that they will continue to convert the remaining balance into more Ethereum, further influencing market dynamics.
Further Rise in Ethereum Price
The impact of such significant transactions cannot be underestimated. Ethereum's current market price is $2919, with a slight increase of 0.14% in the past 24 hours. More notably, ETH has surged by 17.94% in the past 30 days, reflecting renewed interest and optimism in cryptocurrencies. Additionally, market activity in the Ethereum ecosystem is on the rise across the board.
The 24-hour trading volume for ETH has increased significantly by 45.18%, reaching $21.21 billion. This surge in activity indicates a robust and engaging market environment for Ethereum. Further insights from CoinGlass show that Ethereum's open interest has increased by 1.02% in the past day, totaling $10.58 billion.
A significant portion of this interest is concentrated on major exchanges, with Binance leading at $2.63 billion, followed by ByteDance at $1.65 billion, and OKX at $864.88 million. Overall, the behavior of this Ethereum whale and the resulting market dynamics vividly remind people that large-scale transactions can have a significant impact on the market. |
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Post time 2-3-2024 06:58:23