Ethereum Whales are Quietly Splashing Cash – Is Confidence Returning in ETH?
On-chain data shows that deep-pocketed investors, often referred to as whales and sharks, are aggressively buying Ethereum. They continue to accumulate even as the asset trades sideways just below the $4,000 mark.
On October 24, a blockchain analytics platform reported that wallets controlling between 100 and 10,000 ETH had increased their holdings by more than 218,000 ETH. At current market prices, the purchases are worth over $870 million.
Whales Add $870 Million in ETHAccording to the firm, the timing of these purchases is notable considering this cohort had unloaded around 1.36 million ETH between October 5 and 16.