Giant Whale Continues to Bet on ETH despite Market Volatility

02/17/2023 08:21 • Metaverse Matters • 88 views

It is reported that, according to the monitoring of Lookonchain, during the rise of ETH, the giant whale purchased a total of 47729 ETHs (worth about 79.2 million US dollars) from Coinbase and Gemini. After the price of ETH fell today, we still bought 6108 ETHs (worth about US $10.1 million).

During this rise, the giant whale bought about 79.2 million dollars worth of ETH from Coinbase and Gemini

Analysis based on this information:

The global cryptocurrency markets have been experiencing increased volatility in recent months, with major players such as Bitcoin and Ethereum experiencing significant price fluctuations. However, a recent report by Lookonchain suggests that a “giant whale” has been actively purchasing ETH throughout this period, despite the ups and downs of the market.

According to the report, the whale purchased a total of 47,729 ETHs (valued at about $79.2 million) from popular cryptocurrency exchanges Coinbase and Gemini during the latest rise of ETH. This move could be interpreted as a bullish signal, indicating that the whale is confident in the long-term prospects of Ethereum.

However, what’s perhaps even more interesting is that the whale continued to buy ETH even after the price dropped today. The report notes that the whale purchased an additional 6,108 ETHs (worth about $10.1 million) after the sell-off, which could suggest that they believe the market will eventually recover.

Of course, it’s important to note that this whale’s actions are just one of many factors that can influence the cryptocurrency markets. While some investors may view this as a positive sign for ETH, others may be more cautious due to the volatile nature of the market.

Overall, this report sheds light on the growing interest in Ethereum despite market turbulence, which could be an indication of its potential for long-term growth. However, it also highlights the importance of carefully monitoring market trends and acting with caution when making investment decisions.

In conclusion, the rise of the “giant whale” in the cryptocurrency markets is an interesting development that could have significant implications for the future of ETH. As always, it’s crucial to stay informed and remain vigilant in the face of market uncertainty.

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Giant Whale Continues to Bet on ETH despite Market Volatility

During this rise, the giant whale bought about 79.2 million dollars worth of ETH from Coinbase and Gemini

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