Ethereum

Aave

Accumulate

Millions

Million

<p>Spotonchain, an onchain analytics platform, <a href="https://x.com/spotonchain/status/1779315441720270931" target="_blank" rel="noopener noreferrer nofollow">reported</a> two notable instances of whale activity. Amid the 8% correction in the Ethereum (ETH) price over the past 24 hours, several whales have been aggressively accumulating ETH. Per the latest price information from CoinMarketCap, ETH trades <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">$3,085.26</a>. This highlights a 5.30% value dip in the last day.</p>
<h2 class="wp-block-heading" id="strong-whale-0x435-scoops-up-23-790-eth-worth-70-million-strong"><strong>Whale 0x435 Scoops Up 23,790 ETH Worth $70 Million</strong></h2>
<p>The first instance involves a whale with the address 0x435, who spent $70 million in USDC to purchase 23,790 ETH at an average price of approximately $2,942. Significantly, this purchase indicates the whale’s conviction in Ethereum’s potential despite the price dip lately.</p>
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<p>@spotonchain highlighted that this whale has been on an accumulation spree, amassing a total of 60,808 ETH (worth $191 million) from Binance and decentralized exchanges (DEXs) over the past 15 hours. This acquisition followed each sharp drop in ETH’s price, suggesting a strategic approach to capitalize on market volatility.</p>
<p>Currently, the whale holds an impressive 85,931 ETH (worth $278 million) and a substantial $136 million in stablecoins (USDT and USDC) on the Aave lending platform. This substantial holding underscores the whale’s bullish sentiment toward Ethereum and its potential for long-term growth.</p>
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<h2 class="wp-block-heading" id="strong-cvault-finance-deployer-acquires-2-018-eth-worth-6-million-strong"><strong>cVault Finance Deployer Acquires 2,018 ETH Worth $6 Million</strong></h2>
<p>The second instance of whale activity involved the deployer of cVault Finance, a decentralized finance (DeFi) protocol. This deployer spent $6 million in DAI to purchase 2,018 ETH at an average price of approximately $2,973.</p>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="1600" height="979" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-706.png" alt="" class="wp-image-474622" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-706.png 1600w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-1024x627.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-766x469.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-1536x940.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-2048x1253.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-572x350.png 572w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-706-788x482.png 788w" sizes="(max-width: 1600px) 100vw, 1600px">
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<p>Notably, @spotonchain revealed that this same deployer had previously dumped 12,070 ETH (worth $31.06 million) on the chain in January, realizing a substantial profit of $17.03 million – a 101% gain.</p>
<h2 class="wp-block-heading" id="strong-whales-capitalize-on-market-volatility-strong"><strong>Whales Capitalize on Market Volatility</strong></h2>
<p>The accumulation of ETH by these whales during a period of price correction highlights their confidence in Ethereum’s long-term prospects. By purchasing ETH at lower prices, these whales are positioning themselves to potentially benefit from any future price appreciation.</p>
<p>Moreover, the substantial holdings of stablecoins by the whale 0x435 on Aave suggest a preparedness to deploy these funds for further ETH accumulation or other investment opportunities within the Ethereum ecosystem.</p>
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<p>The post <a href="https://captainaltcoin.com/whales-defy-ethereum-price-dip-accumulate-millions-in-eth-strategic-buys-spotlight-confidence/" rel="noopener noreferrer nofollow">Whales Defy Ethereum Price Dip, Accumulate Millions in ETH: Strategic Buys Spotlight Confidence</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Whales Defy Ethereum Price Dip, Accumulate Millions in ETH: Strategic Buys Spotlight Confidence

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