A prominent crypto whale buys Ethereum (ETH) worth millions getting the industry’s attention with this staggering acquisition spree.

This strategic ETH accumulation prompts a broader discussion on the potential ramifications for Ethereum’s price trajectory amidst a backdrop of bullish sentiments from leading analysts.

Crypto Whale Buys Ethereum

A notable crypto whale, identified by blockchain analytics firm Spot On Chain as 0x7a9, has made significant Ethereum (ETH) acquisitions totaling $185.5 million over the past three days.

This buying spree included purchasing 13,526 ETH valued at approximately $39.85 million. Individual transactions highlight the withdrawal of 10,136 ETH, around $29.85 million, from Binance. They also reveal the procurement of 3,390 ETH in exchange for 10 million USDT on 1 inch.

Furthermore, the whale’s activity extended to withdrawing an additional 40 million USDT from Binance, sparking speculation about further ETH acquisitions.

This strategic accumulation of ETH by a single entity reflects the growing confidence in Ethereum as a leading digital asset. It also prompts a discussion on its potential price impact. With Ethereum currently trading at around $3,000, the actions of such influential market participants are closely monitored for their possible effects.

Analysts are keenly observing the situation, with Michaël van de Poppe expressing a bullish outlook on Ethereum, anticipating a “strong continuation” of its performance. Similarly, Skew’s analysis focuses on Ethereum’s resilience and potential for growth.

“I’m keeping a close eye on this current zone, depending on the level of spot buying into dips will identify how s

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Author: Bary Rahma

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