Ethereum

2024

Million

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In an unprecedented move, an Ethereum (ETH) whale has made a colossal&nbsp;<a href="https://x.com/spotonchain/status/1759462371213680926?s=20" rel="noopener noreferrer nofollow">acquisition</a> of ETH, totaling approximately $155.7 million. This significant activity comes as the price of Ethereum nears the $3,000 mark, a bullish signal for investors and enthusiasts alike. According to a recent tweet by Spot On Chain, a notable cryptocurrency analysis firm, the anonymous whale has executed a series of strategic purchases within the last 24 hours.
Acquiring a staggering 54,721 ETH, these transactions were meticulously carried out through a combination of withdrawals from Binance, one of the world's leading cryptocurrency exchanges, and swaps on 1inch, a renowned decentralized exchange aggregator. The detailed breakdown of the transactions reveals that the whale withdrew 19,226 ETH, valued at approximately $55.6 million, from Binance.
<blockquote>
 This massive whale just allegedly bought another 22,719 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($65.7M) at ~$2,893 in the past 50 minutes, including:• withdrew 19,226 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($55.6M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>• swapped 10.1M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a> for 3,493 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> via <a href="https://twitter.com/hashtag/1icnh?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#1icnh</a> In total, the whale has allegedly bought 54,721 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> via Binance… <a href="https://t.co/5XppfMigdf" rel="noopener noreferrer nofollow">https://t.co/5XppfMigdf</a> <a href="https://t.co/UCL1VB01lW" rel="noopener noreferrer nofollow">pic.twitter.com/UCL1VB01lW</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1759462371213680926?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 19, 2024</a>
</blockquote>
Additionally, the investor swapped 10.1 million USDT (Tether) for 3,493 ETH, equivalent to about $65.7 million, through 1inch, at an average price of roughly $2,893 per ETH in the past few hours. This flurry of activity underscores the&nbsp;<a href="https://u.today/ethereums-buterin-names-most-exciting-ai-application" rel="noopener noreferrer nofollow">Ethereum</a> whale's aggressive investment strategy and belief in Ethereum's long-term value.
<h2 dir="ltr" id="ethereum-approaches-3-000">Ethereum approaches $3,000</h2>
This massive accumulation of ETH by the whale has occurred amid a significant uptick in Ethereum's market price and trading volume. The current price of ETH&nbsp;<a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">stands</a> at $2,906, marking a 3.69% increase in the last 24 hours and an impressive 16.51% surge in the past week. The 24-hour trading volume for Ethereum has also experienced a substantial boost, witnessing a 53.44% rise to reach $26.65 billion.
These metrics not only reflect the growing investor&nbsp;<a href="https://u.today/ethereum-etf-in-march-bloomberg-expert-thinks-not" rel="noopener noreferrer nofollow">confidence</a> in Ethereum but also highlight the cryptocurrency's resilience and potential for future growth. The Ethereum community and broader cryptocurrency market are abuzz with speculation regarding the implications of this whale's actions. Such substantial investments by high-net-worth individuals or&nbsp;<a href="https://u.today/more-bitcoin-btc-whales-to-appear-in-2024-reason-disclosed" rel="noopener noreferrer nofollow">entities</a> often signal a bullish outlook on the asset's future price movement.
Analysts suggest that this could potentially lead to increased institutional interest in Ethereum, further propelling its price upward as it edges closer to the coveted $3,000 milestone. Overall, the market watches with bated breath, anticipating the next wave of developments in this ever-evolving space.

Ethereum Whale Buys $155.7 Million in ETH as Price Nears $3,000

Table of Contents

U_Today

Other articles published on Feb 19, 2024

Bitcoin Approaches $52K as Ethereum, Solana, and BNB Show Positive Trends

Crypto Forecast: Top Picks For This Week’s Portfolio

Bitcoin Breaks Historical Resistance, Eyes New All-Time High in Pre-Halving Surge

Coinbase Records Over $1B Bitcoin (BTC) In Hours, What Happened?

ArthSwap Plans ARSW Token Deflation with zkEVM Integration

Worldcoin’s WLD Token Continues to Surge in Crypto Market

Join our free newsletter for daily crypto updates!