In recent weeks, Ethereum has witnessed a noticeable uptick in its market price, reaching a one-month high and showcasing a growing demand for the asset. Amid this development, the on-chain analytics platform Lookonchain revealed an Ethereum whale’s noteworthy strategy, marking a bold stance on Ethereum’s future trajectory.
Strategic Accumulation Amid Rising Prices
According to Loookonchain, an unknown whale has been actively increasing their Ethereum holdings, utilizing the Spark platform’s revolving loan feature. Spark platform is a decentralized finance (DeFi) product that enables users to borrow stablecoins like USDC or DAI against their cryptocurrency holdings.
This investor has managed to withdraw 39,900 ETH worth roughly $99.5 million from major exchanges such as Binance, Bybit, OKEx, and Bitfinex, leveraging the flexibility of revolving loans to boost their position in Ethereum.
Further insights from Lookonchain reveal that these withdrawals by the whale represent a conti
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