Ethereum

Rally

Cryptocurrency

<p><strong>Cryptocurrency whale watchers noticed large Ethereum transactions over the past couple days that appear to be timed with ETH’s recent price rally.</strong></p>
<p>On Friday, crypto analytics firm LookOnChain reported that an Ethereum whale deposited 24,495 ETH worth $45 million to Binance as ETH’s price was rising. LookOnChain speculated the whale expected to profit around $5.47 million from this move.</p>
<p>This apparently savvy trader has a strong track record, according to LookOnChain. Since February 12, the whale has traded ETH 8 times, scoring profits on 7 out of 8 trades for an 87.5% win rate. In total, LookOnChain estimates this whale has netted over $13 million in profits so far this year.</p>
<p>The whale struck again on Saturday, LookOnChain <a href="https://x.com/lookonchain/status/1720617305128804806?s=20" target="_blank" rel="noopener noreferrer nofollow">reported</a>. The whale deposited 31.8 million USDT to Binance, then withdrew 8,698 ETH worth approximately $15.94 million shortly after.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="515" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-1024x515.png" alt="" class="wp-image-369851" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-1024x515.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-300x151.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-767x386.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-1536x773.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-2048x1031.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-298x150.png 298w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-695x350.png 695w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-97-788x396.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>These largetransactions come as Ethereum’s price has rallied 2% over the last 24 hours. ETH is currently trading around $1,840, up significantly from recent lows under $1,500 in mid-July.</p>
<p>Some speculate the whale is betting on a continued Ethereum price recovery. The activity may also signal bullish sentiments among large crypto holders. With Ethereum merging to a proof-of-stake consensus model soon, traders may believe now is an opportune time to accumulate ETH.</p>
<p>Of course, no one knows for sure except the whale making these large bets. But Ethereum whales are worth paying attention to, as their transactions can sometimes foreshadow where the markets are heading next.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ethereum-whale-makes-another-big-buy-amidst-price-rally/" rel="noopener noreferrer nofollow">Ethereum Whale Makes Another Big Buy Amidst Price Rally</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethereum Whale Makes Another Big Buy Amidst Price Rally

Table of Contents

CaptainAltcoin

Other articles published on Nov 4, 2023

Coinbase’s Share Price Surges 8.7%

Significant whale movements stir up XRP and Bitcoin market

BeOne Network Unveils "One Wallet": Seamless Connectivity to the BeOne Ecosystem

What Is The Role Of Cryptocurrency In The Gaming World?

Prediction of 20x Growth in the Smart Contract Ecosystem

What Fuels ETH’s Monopoly? JPMorgan, SEC, or Its Security, Liquidity?

Join our free newsletter for daily crypto updates!