Ethereum

2024

Bitcoin

April

<a href="https://bitcoinworld.co.in/whales-are-buying-ethereum-like-crazy-amid-eth-price-drop/" title="Whales Are Buying Ethereum Like Crazy Amid ETH Price Drop" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Amid notable drop in Ethereum’s price, prominent market whales are actively buying Ethereum like crazy.</li>
</ul>
In the midst of heightened global tensions, the cryptocurrency market witnessed a significant downturn, with the TOTAL index plummeting by a staggering 17% over the weekend, marking a loss of nearly $430 billion in market capitalization.&nbsp;
While this turbulence affected all digital assets, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, took a notable hit, experiencing an 18.43% decline, reaching a low of $2,852 per Ethereum.
<h3 id="span-style-font-weight-400-bitcoin-and-ethereum-etfs-officially-approved-in-hong-kong-span">Bitcoin and Ethereum ETFs Officially Approved In Hong Kong</h3>
However, amid the market chaos, a fascinating trend emerged – prominent players in the crypto sphere, often referred to as “whales,” showed unwavering confidence in Ethereum’s potential. Notably, large addresses were observed accumulating substantial amounts of ETH during the price drop.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/crypto-whales-sold-holdings-before-the-market-crash/" aria-label="“Crypto Whales Sold Holdings Before the Market Crash” (Edit)" rel="noopener noreferrer nofollow">Crypto Whales Sold Holdings Before the Market Crash</a>
<h3 id="span-style-font-weight-400-whale-activities-span">Whale Activities</h3>
One such whale, identified as “<a href="https://x.com/lookonchain/status/1779685168883839152" rel="noopener noreferrer nofollow">0xE34</a>,” seized the opportunity to accumulate 1,000 ETH, worth approximately $3.15 million, from Binance at the market’s lowest point.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This whale accumulated 1,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($3.15M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at the bottom again, accumulating 8,300 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($25.12M) after the market dropped.<a href="https://t.co/ZXrwpz1g6D" rel="noopener noreferrer nofollow">https://t.co/ZXrwpz1g6D</a> <a href="https://t.co/bONUrSKbyl" rel="noopener noreferrer nofollow">pic.twitter.com/bONUrSKbyl</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779685168883839152?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
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This particular address went on to accumulate an impressive 8,300 ETH, valued at around $25.12 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This whale accumulated 1,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($3.15M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at the bottom again, accumulating 8,300 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($25.12M) after the market dropped.<a href="https://t.co/ZXrwpz1g6D" rel="noopener noreferrer nofollow">https://t.co/ZXrwpz1g6D</a> <a href="https://t.co/bONUrSKbyl" rel="noopener noreferrer nofollow">pic.twitter.com/bONUrSKbyl</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779685168883839152?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
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Furthermore, another significant player, a wallet associated with Matrixport, made a decisive move by withdrawing 16,300 ETH, amounting to a staggering $51.1 million, from Binance amid the market turmoil.&nbsp;
This wallet has been consistently withdrawing ETH from exchanges since March 29, accumulating a total of 67,286 ETH, valued at approximately $228.33 million, at an average price of $3,393.
Matrixport, a prominent player in the crypto financial services sector, has been actively involved in facilitating digital asset management and trading for institutional and retail investors globally.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A wallet related to <a href="https://twitter.com/hashtag/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Matrixport</a> withdrew 16,300 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($51.1M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> again 20 mins ago.
 This wallet has frequently withdrawn <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> from exchanges since Mar 29, withdrawing a total of 67,286 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($228.33M) at an average price of $3,393.5.<a href="https://t.co/R43ImnYb5H" rel="noopener noreferrer nofollow">https://t.co/R43ImnYb5H</a> <a href="https://t.co/qmmzAxHzCV" rel="noopener noreferrer nofollow">pic.twitter.com/qmmzAxHzCV</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779711087514161370?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
</blockquote>
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These substantial purchases of Ethereum during a period of market instability highlight the confidence of several major players in the potential of the leading altcoin.&nbsp;
Despite geopolitical uncertainties and market volatility, Ethereum continues to maintain bullish sentiment among key holders.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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The post <a href="https://bitcoinworld.co.in/whales-are-buying-ethereum-like-crazy-amid-eth-price-drop/" rel="noopener noreferrer nofollow">Whales Are Buying Ethereum Like Crazy Amid ETH Price Drop</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Whales Are Buying Ethereum Like Crazy Amid ETH Price Drop

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