Coinspeaker
Ethereum Whales Display Unwavering Confidence: Continue ETH Accumulation despite Recent Dip
Ethereum (ETH) whales have embarked on a buying spree, with large wallet holders accumulating substantial amounts of the coin. This move comes in the wake of a recent dip experienced by most cryptocurrencies over the weekend, during which ETH also faced a decline.
Prior to the market downturn, analysts had predicted that Ethereum was well-positioned to reach its previous all-time high. However, the coin took an unexpected turn, plummeting to $2,800, its lowest level since February, marking a dip of over 19% between Friday and Saturday.
Despite this setback, the whales have not faltered, seizing the opportunity to buy the dip. An analysis released by Lookonchain, an on-chain analyst on X, revealed that a particular whale address spent $3.15 million to acquire 1,000 ETH from Binance. Undeterred, the same whale then spent an additional $25 million to accumulate 8,300 ETH af
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