Ethereum

Million

Resistance

Chainlink

Avalanche

<p>A large Ethereum whale has been steadily accumulating the cryptocurrency over the past month <a href="https://x.com/lookonchain/status/1734141077664473216?s=20" target="_blank" rel="noopener noreferrer nofollow">according</a> to transactions monitored by blockchain analytics firm LookOnChain.</p>
<p>Today, the whale deposited 55 million USDT (Tether) onto the popular cryptocurrency exchange Binance, likely with the intent of using those stablecoins to purchase Ethereum.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-1024x447.png" alt="" class="wp-image-396606" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-1024x447.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-300x131.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-767x335.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-1536x671.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-2048x895.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-343x150.png 343w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-100x44.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-801x350.png 801w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-309-788x344.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This whale has proven to be an experienced swing trader of Ethereum. On November 9th, they sold a staggering 25,700 ETH valued at approximately $54.5 million at the time. However, after waiting a full month and watching the price plummet, they are now restarting their accumulation.</p>
<p>LookOnChain has tracked this whale’s transactions going back to February 12th of this year. In total, they have traded Ethereum 8 times. An impressive 7 of those trades have resulted in profits, giving this whale an 87.5% win rate and over $13 million in total gains from their ETH moves.</p>
<p>Their most recent large deposition of Ethereum onto Binance was on November 2nd, when they <a href="https://x.com/lookonchain/status/1719969181054165202?s=20" target="_blank" rel="noopener noreferrer nofollow">deposited</a> 24,495 ETH worth around $45 million after a price spike. It is estimated they made around $5.47 million from that single trade by selling into increased demand.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/chainlink-link-nears-make-or-break-resistance-level/" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK) Nears Make-or-Break Resistance Level</a></li>
 <li><a href="https://captainaltcoin.com/why-has-avalanche-avax-pumped-300-in-two-months/" target="_blank" rel="noopener noreferrer nofollow">Why Has Avalanche (AVAX) Pumped 300% in Two Months?</a></li>
 <li><a href="https://captainaltcoin.com/rebel-satoshi-demonstrates-big-profit-potential-how-do-ethereum-eth-and-avalanche-avax-compare/" target="_blank" rel="noopener noreferrer nofollow">Rebel Satoshi Demonstrates BIG Profit Potential: How Do Ethereum (ETH) and Avalanche (AVAX) Compare?</a></li>
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<p>With Ethereum currently trading hands around $2200, it seems this savvy investor is betting the recent pullback provides an attractive entry point once again. Their successful track record shows they have a knack for identifying good long term accumulation zones. With such a large order being placed, it will be interesting to see if this whale’s activity helps stabilize or even reverse Ethereum’s price trend in the near future.</p>
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<p>The post <a href="https://captainaltcoin.com/whale-deposits-55-million-in-tether-usdt-to-binance-likely-to-buy-this-altcoin/" rel="noopener noreferrer nofollow">Whale Deposits $55 Million in Tether (USDT) to Binance, “Likely” To Buy This Altcoin</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Whale Deposits $55 Million in Tether (USDT) to Binance, “Likely” To Buy This Altcoin

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