Ethereum

Anonymous

Time

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/anonymous-whale-makes-significant-move-in-ethereum-market/" data-wpel-link="internal">Anonymous Whale Makes Significant Move in Ethereum Market</a> 
BlockBeats reported that a powerful anonymous crypto whale made a significant move in the Ethereum (ETH) market. According to this, the whale purchased 5,000 ETH worth approximately $11.46 million at current prices. 
<h2 style="text-align: justify" id="strong-whale-does-not-collect-eth-from-potential-dips-for-the-first-time-strong">Whale Does Not Collect ETH from Potential Dips for the First Time</h2> 
According to on-chain data compiled by Lookonchain, the whale’s recent $11.46 million purchase occurred within two days. This purchase indicates another strategic investment by the whale, expecting that ETH might have hit the bottom. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-387103" src="https://coin-turk.com/wp-content/uploads/2024/09/Ethereum-ETH.png" alt="" width="564" height="674"> 
The crypto whale is not making such significant moves in the Ethereum market for the first time. In November 2022, the whale made headlines by purchasing 5,200 ETH at an average price of $1,322. Known for its strategic timing, the whale later sold these significant ETH holdings in multiple sales in January and December 2023 at an average price of $2,093. All these transactions brought the whale over $4 million in profit, demonstrating the success of the buy-low, sell-high strategy. 
The recent purchase shows the whale’s confidence in Ethereum’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> potential despite current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a>. Although the details behind the whale’s investment strategy remain unclear, such large purchases typically reflect a belief that the market will recover or that the value will increase in the long term. 
Investors and analysts closely monitor the whale’s moves, especially given its past success with timing. Whether this latest purchase will bring similar significant gains as in the past remains uncertain. 
Whales or large investors have a significant impact on the <a href="https://en.coin-turk.com/bitcoin-price-plummets-on-binance-australia-amid-regulatory-pressure/" data-wpel-link="internal">crypto market</a> due to their ability to influence prices with large transactions. The recent ETH purchase by the whale could be a strategic move before a potential rise or simply an effort to accumulate more of the altcoin king at perceived low prices. 
<h2 style="text-align: justify" id="strong-eth-s-reaction-was-minimal-strong">ETH’s Reaction Was Minimal</h2> 
So far, the Ethereum market has reacted to this significant transaction with an upward but minimal response. At the time of writing, the altcoin king’s price is trading at $2,297, up 0.27% in the last 24 hours. 
The post <a href="https://en.coin-turk.com/anonymous-whale-makes-significant-move-in-ethereum-market/" data-wpel-link="internal">Anonymous Whale Makes Significant Move in Ethereum Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Anonymous Whale Makes Significant Move in Ethereum Market

Table of Contents

COINTURK NEWS

Other articles published on Sep 9, 2024

ETF bloodbath! Bitcoin lost $706M in a week, Ether drained by $91M

Top 5 Sub-$1 Cryptos with Massive Growth Potential in 2024

Binance-Backed Tokocrypto Gets Crypto License in Indonesia

100 Million XRP in 24 Hours — Here's What's Happening

Top Cryptos to Buy Now: BlockDAG, Ripple, Toncoin, & Cardano Ready to Soar in 2024

PIN AI secures $10M from a16z CSX, Hack VC, and All-Star angels to launch open platform for perso...

Join our free newsletter for daily crypto updates!